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Form 8332 El Cajon California: What You Should Know
If a custodial parent has filed Form 8332, then the custodial and noncustodial parent would exchange claims to exempt the child from federal income tax. Since the child has nothing to declare except for a lack of income, the child is released from income taxation but can claim a 3,000 exemption, regardless of whether he or she actually took part in the household. After a child turns 18 (typically around the end of high school), he or she usually goes to college and gets a Graduate Student Tax Credit. What Do I have to Do to Get Release of Claim to Exemption for Child by Custodial Parent? Sign the form; give a signed copy to the other parent. Fill out the form and give a signed copy to the other parent. Give Form 8332 or its equivalent to the IRS. The IRS will provide instructions to the custodial parent. Use Form 8332 to sign the original for the noncustodial parent and a signed copy to the custodial parent. Is Release of Claim to Exemption for Child by Custodial Parent Tax Deductible? Yes. Is the Release of Claim to Exemption for Child by Custodial Parent Reasonable? In general yes. Is Release of Claim to Exemption for Child by Custodial Parent Tax-Free? No.
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