Can I claim my child as a dependent and have him/her on his/her mom's insurance?

Question

My girlfriend and I are expecting a child in early January. Her insurance is far better than mine, but I make almost 3 times what she makes. So I think that I would benefit the most from claiming our child as a dependent on my taxes, however I would really like to keep our child on her insurance, like I sai it is better than mine. She gets medical, dental & vision for less than I pay for medical. Also our coverages, co-pays, etc. are the same. I don't even know if it is possible to have one parent claim them as a dependent and have another parent put them on their insurance. Any advice or suggestion would be greatly appreciated!!

I forgot to state that we live together.

Answer 1

The insurance carrier may have restrictions. The IRS has no restriction on what you are planning to do.

If the child qualifies both parents to take the dependency exemption, unless there is a specific question by the insurance company as to whether the dependency exemption was actually claimed, you should be fine claiming your child on your tax return, and the mother carrying the child on her health insurance.

Added later: Do not assume that since you make more money, the dependency exemption is more valuable to you. Do the taxes both ways, the mother may qualify for Earned Income Credit.

Answer 2

There's no rule that the parent who has the child on his/her insurance has to be the parent who claims the child. If the child isn't born early, you won't get an exemption for 2007, but for 2008 if you are still living together, either of you (but not both) can claim the child.

Answer 3

Only one of you can claim the child if filing separately.

Who insures, feeds, pampers, or burps the baby is irrelevant. You just have to agree who claims it.

however, if you are not providing support for that baby in some way, you cannot claim it.

Answer 4

You can claim the child on your tax return, it has no bearing on who insures the child.

Answer 5

Yes