Answers to 3 FAQs on Taxes for Tennessee Parents

If you’re a parent in Tennessee and have a child custody agreement, just what do you do when it comes time to file your tax return? Can you claim your child as a dependent? Only one parent can claim the dependent exemption, and if you don’t have this right by law, and both of you attempt to claim it, you’re going to end up with a tax audit on your hands. 

Here’s a three-part test for Memphis parents. A child custody attorney can help if you want to go over the following questions in more detail: 

• Are you the primary residential parent? (Typically, the primary residential parent has first dibs to claim the exemption, unless you have another agreement in place.)
• If not, has the primary residential parent filled out a form 8332? (If you are the alternative residential parent, you still can claim your children as dependents if the other parent fills out and signs this form for you to file with your taxes.)
• Have you explored whether a court order is an option? (If both parents cannot agree on who can claim the exemption, the non-custodial parent may seek a court order to be able to claim it, or at least claim it on alternating years.)

If you have pressing questions about how child custody impacts your federal tax return, don’t wait until tax time to take action. Talking with a Memphis child custody attorney now can help put your mind at ease and prevent unwelcome surprises. For more informaiton, see Divorce and Taxes | Tennessee Divorce Law & Taxes Resources.

Dealing with Memphis Child Custody Can Get Confusing. An Attorney Can Help.

At Miles Mason Family Law Group, we understand that child custody agreements have a major impact on nearly every facet of your life, taxes included. We are here to offer our financial knowledge and understanding of Tennessee’s divorce laws. When you need a Memphis child custody attorney, our team can offer sound legal advice, so you can rest assured you’re acting in the best interests of your children. Contact us today.