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An unmarried couple split with a 50/50 custody agreement stating that every other year the parent...

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Accounting

An unmarried couple split with a 50/50 custody agreement statingthat every other year the parent may claim the one child as adependent. One parent makes 80K a year and the other makes 23K ayear. Does a custody agreement prevent the lower earner fromclaiming child tax credit or earned income credit? Explain youranswer.

Answer & Explanation Solved by verified expert
4.4 Ratings (725 Votes)
As per the IRS rules Of child Tax credit and Earned Income Credit only one parent can take the claim As there are Rules set by IRS for claiming the Qualifying child dependent 1 The child should live with the parent for more than half of the year 2 The Parent should provide Half of the support for the child If    See Answer
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