2007-02-17 04:51:46 · 16 answers · asked by Clyde M 1 in Business & Finance ➔ Taxes ➔ United States
Child Support is NOT taxable, nor deductable. the child(ren) however are.
but if you both claim the children, the IRS will audit both of you. all the IRS goes by is who pays more then 50% of that childs living expenses and how long the child spends with you.
you pay what? 400? 600? 900?
ok, lets see...
rent; 1000
electric 300
food 400-600
diapers 75-150 per month (fluctuates when baby is sick or teething)
heat 300
phone/cable 100
auto; (for doctors, dentists, take to school when they miss the bus, pick up when sick, pick up medicines, get food) 200
clothing/shoes/boots 200-400 every 2 to 3 months (seasonal and they grow)
that doesnt even include dental, doctors, glasses, daycare, hair cuts, school supplies, school projects, class trips, class pictures, over the counter medicines, prescriptions, laundry det, dish det, cleaners, soap, shampoo, toothpaste, christmas, easter, halloween, tooth fairy, birthdays, etc. and sooo much more.
do you pay more then 50%? nope.
here are the IRS links to anwer your questions.
TAX INFO
http://www.taxsites.com/index.htm
http://www.divorceinfo.com/taxes.htm
http://www.irs.gov/taxtopics/tc354.html
http://www.irs.gov/taxtopics/tc422.html
http://www.irs.gov/faqs/faq4-5.html
http://www.irs.gov/localcontacts/index.html
http://www.irs.gov/advocate/index.html
http://www.irs.gov/publications/p525/index.html
http://www.fms.treas.gov/faq/offsets_childsupport.html
http://money.cnn.com/2007/02/14/pf/taxes/do_not_miss_tax_breaks/index.htm?postversion=2007021411
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2007-02-18 01:14:27 · answer #1 · answered by Yvette B yvetteb 6 · 0⤊ 0⤋
My hubby just mentioned this yesterday. It's not a legal deduction yet but maybe it should be. The person who has legal custody can ask for earned income credit and child care credit so why not? Well, I believe the argument would be that the person with custody is taking the child to daycare to WORK-thus pay taxes, where the person paying child support would in effect be making the feds pay for all the children from divorced parents.In other words you would be taking from the government while the person with the child is giving. There may be an argument for this but I don't know what.
2007-02-17 05:50:39 · answer #2 · answered by dtwladyhawk 6 · 0⤊ 0⤋
No you cannot. Believe me, I know this from personal experience. Like the guy above me, I also have it written into my divorce agreement that I get to claim one of my two children on my tax return.
Alimony you can, and the spouse receiving it has to declare it as income, but child support is not deductible.
2007-02-17 05:09:04 · answer #3 · answered by TheOnlyBeldin 7 · 1⤊ 0⤋
No you can not ,just alimony payments.
You can use however as many children you pay for child support as an exemption if your support pays more than 50% of their support.
You cannot however use them as an exemption ,if your ex wife uses them as an exemption.Two people cannot use the same person as an exemption.
I had it in my divorce agreement that I could use my youngest child(I have 2 children),for an exemption up to the age of 21.
As long as their income does not exceed more than 50% of the support that I give them(that's an IRS rule).
You could try and find out if your ex is using your children as an exemption,depending how many you have,you might be able to reach an agreement with her that you can use one of them.
If you only have one child(you didn't say how many children you have ),and the child lives with your ex,then she is probably using your child as an exemption.
My son reached (youngest) 21,last March,even though I paid child support for 3 months,it wasn't 50% of his support,a roof over his head constitutes as support for my ex,unless of course if your children live with you part of the year such as a "joint custody " agreement.
Remember,alimony --yes you can use that as an write off
Child support - No..
New IRS rules also state that if you use your child as an exemption and they do not live with you,you have to send a copy of your divorce agreement,with the paragraph that stipulates that you can use one or more of your children as an exemption ,and circle it lightly.
I used my son until last year,(this years taxes),and this is the first year that I will not use him as an exemption,he is over 21,and his working also,so my 3 months of support is not 50% of his support for him.
If they are developmentally disabled and require special care,that may constitue for more support ,if you are paying more for that ,or a special school.
50% rule,and children's residence,and only 1 parent can claim a child as a dependant,which is considerably a huge amount.
I had that inserted in my divorce agreement,thankfully and has saved me a little money over the past 10 years.
2007-02-17 05:06:27 · answer #4 · answered by Dfirefox 6 · 1⤊ 2⤋
Generally no, child support is not deductible, spousal support is.
As for claiming the child if your attorney did not get that stipulated to in the divorce (or you were never married and the child does not live you with) you can't do that either.
The laws are skewed and non-custodial parents are screwed over (and over and over).
It sucks but the money truly is for the betterment of your child. Bide your time, and count the days until its over.
2007-02-17 05:00:30 · answer #5 · answered by Gem 7 · 0⤊ 2⤋
No, child support is not deductible for the payer, or reported as income by the person receiving it.
2007-02-17 11:56:49 · answer #6 · answered by Judy 7 · 1⤊ 0⤋
No you can't child support is a wash it is neither claimed as income or can you claim it as a deduction. If you paid medical expences or education expencese you may claim that.
2007-02-17 05:00:43 · answer #7 · answered by Anonymous · 1⤊ 1⤋
No, child support is NEVER deductible.
2007-02-17 05:19:07 · answer #8 · answered by Bostonian In MO 7 · 1⤊ 0⤋
No - child support is not deductable.
2007-02-17 05:56:19 · answer #9 · answered by Gypsy Girl 7 · 1⤊ 0⤋
Alimony yes but child support no. It counts in determining who can claim children as dependents but that is all.
2007-02-17 04:56:17 · answer #10 · answered by spicertax 5 · 1⤊ 2⤋