Kelly London McCullar - Page 4

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          II.  Dependency Exemption                                                   
               A.  Code and Regulations                                               
               Section 151 allows deductions for personal exemptions.                 
          Besides providing exemptions for the taxpayer and, in certain               
          circumstances, the taxpayer’s spouse, section 151 provides                  
          exemptions for dependents of the taxpayer.  Section 152(a)                  
          defines the term “dependent” to include a son or daughter of the            
          taxpayer “over half of whose support for the calendar year * * *            
          was received from the taxpayer (or is treated under subsection              
          (c) or (e) as received from the taxpayer)”.                                 
               In pertinent part, section 152(e)(1) provides that, if a               
          child of divorced parents receives over half of his support                 
          during the year from his parents and is in the custody of one or            
          both parents for more than half of the year, then the child shall           
          be treated as receiving over half of his support during the year            
          from the parent having custody for a greater portion of the year.           
          That parent is referred to as the “custodial parent”.  Id.                  
               In pertinent part, section 1.152-4(b), Income Tax Regs.,               
          provides that custody is determined by the most recent decree of            
          divorce.  It further provides:  “In the event of so-called                  
          ‘split’ custody, or if neither a decree or agreement establishes            
          who has custody * * * ‘custody’ will be deemed to be with the               
          parent who, as between both parents, has the physical custody of            
          the child for the greater portion of the calendar year.”                    

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