There are multiple tax benefits associated with parenting including the minor child tax dependency exemption (dependency exemption), the child tax credit, head of household status, child and dependent care tax credit, the earned income tax credit, and benefits associated with Health Savings Accounts.
When the parents of a child are together and filing taxes jointly, the parties do not have to think about who is entitled to the tax benefits of claiming the minor child or children. However, when couples divorce, who claims the child or children for tax proposes can become a source of...
