Who Pays Child Support If We Share Joint Physical Custody?
The American Bar Association notes that child support may or may not be ordered in a joint physical custody arrangement. In joint physical custody, both parents spend a considerable amount of time with the child in their home. Each parent assumes the financial responsibility of covering the child’s expenses when the child is in their home, which decreases the financial obligation on the other parent. If the parents have equal income amounts, there may be no child support order. If one parent’s income is substantially lower than the other parent, child support may be ordered from the parent with the higher income, but the amount may be less than child support guidelines. Can I Claim My Child on My Taxes If I Am the Noncustodial Parent? Typically, you can only claim a child as a dependent if the child lived with you over half of the tax year and child support carries no tax benefit for either parent. The custodial parent has to revoke the right to claim the child by completing IRS Form 8
