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Elgin Illinois Form 8332: What You Should Know
However, if you make one of the above exemptions claims on a divorce agreement, you'll want to make the noncustodial parent aware of the change right away. When your ex-spouse dies, it is possible to get tax cuts if your spouse has a death benefit at death. This page details the death benefit (sometimes called the “death tax benefit”) and the eligibility requirements that the ex-spouse had to meet before they could receive this benefit. What is the Death Benefit? If you have one or more ex-spouses and your spouse has a death benefit at our death and that benefit is above the threshold, you might need to file a form 8333, which is called the death benefit deduction. Why file a death benefit deduction on a form 8333? Even if you're not the beneficiary, you might want to file this form if you're the spouse or former spouse of the deceased, or if you are the spouse or former spouse of the deceased ex-spouse. You may not qualify for any additional tax breaks in this case. Form 8333: Death Benefit Deduction Sept 16, 2024 -- The following instructions are for filing this form. The instructions are not necessarily the exact wording of the forms and instructions. What does file this form include? This form includes an additional line for you: The Excluded or Excluded from Qualification Status line in Column 5 and the Excluded Status of Children line. Note: Excluded Children need not be listed if the child that the ex-spouse died was never eligible for a benefit and was never on your return. If you're an eligible child of the deceased spouse, you might be able to claim your Excluded Status as a child of your ex-spouse. If you use this option, you must indicate the eligibility of your Expected Child. If the Expected Birth Date for the Excluded Child was more than 31 days prior to the date of the death of the other parent, you will need to use the Form 8332 Excluded Children Line. If the Expected Age for the Excluded Child was more than 31 days prior to the date of the death of the other parent, you will use the Form 8334 Excluded Individuals Line.
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