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Posted on April 13, 2016 in Family Law,Taxes

irs dependent exemptionAccording to the IRS, the parent with whom the child spent the greater number of nights during the year is the “custodial parent.”  By using IRS Form 8332, the custodial parent can release the claim to exemption for the child to the noncustodial parent.  This form can also be used to revoke a previous release of claim to exemption.  Fine print on IRS Form 8332: If the child was with each parent an equal number of nights during the year, then the custodial parent is the parent with the higher adjusted gross income.