- 4 - settlement agreement providing primary residential care to Mrs. De Strooper is merely to comport with Florida custody law. Discussion A. Dependency Exemption Deduction for Aaron Section 151 allows a taxpayer to deduct an exemption amount for each dependent as defined in section 152. The term “dependent” includes a taxpayer’s son over half of whose support for the calendar year is received from the taxpayer. See sec. 152(a)(1). The support test in section 152(e)(1) applies if: (1) A child receives over half of his support during the calendar year from his parents; (2) the parents are divorced under a decree of divorce; and (3) such child is in the custody of one or both of his parents for more than one-half of the calendar year. If these requirements are satisfied, as in the present case, the “child shall be treated, for purposes of subsection (a), as receiving over half of his support during the calendar year from the parent having custody for a greater portion of the calendar year (* * * referred to as the custodial parent)” thus allowing the dependency exemption to be claimed by the “custodial parent”. Sec. 152(e)(1); see sec. 1.152-4(c), Income Tax Regs. Custody is determined by the terms of the most recent custody decree if there is one in effect. See sec. 1.152-4(b), Income Tax Regs. The agreement provides that Mrs. De StrooperPage: Previous 1 2 3 4 5 6 7 Next
Last modified: May 25, 2011