Understand what are the requirements for claiming a child as a dependent on your taxes, who else you can claim as a dependent, and how it can save you thousands.
The parent who has majority custody usually gets to claim the child as a dependent. Parents can defer their dependent claim to the other parent by completingForm 8332. It'sworth claiming dependentsif you're entitled to do so, but the rules can be tricky in cases of joint custody or in ...