- 4 -
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.”
Page: Previous 1 2 3 4 5 6 7 8 Next
Last modified: May 25, 2011