Does the Form 8332 (used to release the exemption to the noncustodial parent) affect the Child Tax Credit?
Yes. The Child Tax Credit can only be claimed by the parent claiming the exemption. In this case the noncustodial parent would qualify for the dependency exemption and therefore the child tax credit. Please refer to the Instructions for Form 1040 or the Instructions for Form 1040A index for Child Tax Credit. The referenced pages will explain who qualifies for this credit, and how to calculate it. References: • Instructions for Form 1040 (General Inst.
Related Questions
- Can a custodial parent claim the Child Tax Credit if the noncustodial parent claims the child as a dependent due to the divorce agreement?
- Does the Form 8332 (used to release the exemption to the noncustodial parent) affect the Child Tax Credit?
- Can a noncustodial parent get the child tax credit if the custodial parent is claiming the exemption?
