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Tax 8332 for 2022-2023 Form: What You Should Know
A Form 8332 can be used to obtain a release of exemption from the child if the custodial parent does not claim the child as a dependent. Why use Form 8332? | Tax Form Guide Using a Form 8332 is a step towards establishing a claim for the tax benefits of exemptions. The IRS expects custodial parents to use Form 8332 when an exemption is not included, such as a student's allowance, or a deduction is to be taken for dependent children. Why did you use Form 8332? The IRS recognizes that custodial parents are responsible for paying some or all of the child's support and to protect its tax benefits, the IRS requires both parents to use a form for releasing the exemption, rather than one in order to keep the exemption. The IRS does not release tax benefits based on whether a noncustodial parent is a legal custodian for a child. When should you use Form 8332? Custodial parents should use Form 8332 when: The custodial parent does not claim any children as dependents — they only claim a child as an allowance or other payment The custodial parent does not have sufficient children in order to take the child's share of the allowance The custodial parent can claim the children as dependents if the custodial parent's share of the allowance is greater Form 8332 does not apply to an exemption based on a child's age when a child's legal custody is established for all the year. However, when no legal custody of the child has been established for the entire year, Form 8332 can be used. The IRS uses forms to transfer the exemption, not to establish a custodial arrangement for each child. Exemption for Children and Dependents (Form 8332) Form 8332 includes a number of instructions to help with the release of the child's exemption. The instructions help the custodial parent to complete all required fields on the tax form. They help the custodial parent identify the form. In addition, they point out when the custodial parent may not be exempt from taxes because the child does not have an existing tax exemption from the tax form or the child's previous custody arrangement did not result in a tax exemption. The custodial parent is the parent that has primary custody of the child The custodial parent must have the same legal right of management — parental authority — in all relationships with each child, in each case with respect to all sources of income and services.
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