Paul O'Neil Powers - Page 6

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         the year.  In addition, Audra did not sign a Form 8332 that she              
         would not claim the children as dependents for the year at issue             
         nor a statement conforming to the substance of Form 8332.                    
         Likewise, petitioner did not attach a Form 8332 or similar                   
         written statement to his return for 2001.  Accordingly,                      
         petitioner is not entitled to the dependency exemptions for 2001.            
              Section 24(a) provides that a taxpayer may claim a credit               
         for “each qualifying child”.  A qualifying child is defined,                 
         inter alia, as any individual if “the taxpayer is allowed a                  
         deduction under section 151 with respect to such individual for              
         the taxable year.”  Sec. 24(c)(1)(A).  For the reasons stated                
         above, petitioner may not claim a dependency exemption deduction             
         for any of the children under section 151.  Accordingly, he is               
         not entitled to claim a child tax credit with respect to the                 
         children for 2001.                                                           
              To reflect the foregoing,                                               
                                                 Decision will be entered             
                                            for respondent.                           
















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