MFS Dividing Dependents

[Randall]

Can we divide up the dependents any way in MFS?  If 2 children, do we have to put one child on each parent's return or can we claim both children on one or the other returns?

 

[Jack from Ohio]

3 hours ago, Randall said:

Can we divide up the dependents any way in MFS?  If 2 children, do we have to put one child on each parent's return or can we claim both children on one or the other returns?

 

Move or divide them the way that gives the best tax advantage.  No rules governing this.

[kcjenkins]

If the parents agree, you can do it either way.  If they do not agree, you need to do the worksheets to determine who can claim them.  Just CYA, and get a signed release if you are giving them both to one.  I used to ask them to sign a Form 8332, just for my file.  We know they can revoke it, but it at least protects you, should they later dispute how the spouse filed.  

[Randall]

Thanks.  It's a moot point now.  They've decided to file jointly.  Save almost $3k with the dependent child care credit.  Were concerned with the student loan payback schedule.  But I guess the difference for filing separately helped them decide.

 

[kcjenkins]

That's good.