Divorce Tax Filing Tips

Summary

If your divorce is finalized in November, you will file as Single or Head of Household for the entire year. For 50/50 custody, the parent with the higher adjusted gross income (AGI) usually claims the dependent unless specified otherwise in a court order or agreement. Alternating years is another common approach. Consult a family law attorney for specific advice.

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When recently divorced, what's the best wat to handle taxes if we'll be married all but maybe * or 2 months of *?
Hi ****,
To provide accurate tax guidance, could you please let me know your location (state)? This will help me offer specific state-related information.
Texas
Hi ****,
Here are some general guidelines for handling taxes after a recent divorce in Texas:
- **Filing Status**: Your marital status on December * determines your filing status for the entire year. If divorced by then, file as "Single" or "Head of Household" if you qualify.
- **Alimony**: Alimony payments may be tax-deductible for the payer and taxable for the recipient, depending on the divorce agreement.
- **Dependency Exemptions**: Only one parent can claim a child as a dependent. Agreements or court orders usually determine this.
For specific advice, consider consulting a tax professional or attorney specializing in family law.
Is there anything more specific you would like to know?
So if my divorce is finalized in November, will i then file as single?
If your divorce is finalized in November, you will file as "Single" or "Head of Household" (if you qualify) for the entire year, as your marital status on December * determines your filing status for that tax year.
How do you determine who will claim dependents (children), if splitting custody */*
Hi ****,
In cases of */* custody, determining who claims the dependents usually follows these guidelines:
- **Court Order or Agreement**: Check if your divorce decree specifies who claims the dependents.
- **IRS Tiebreaker Rules**: If no agreement, the parent with the higher adjusted gross income (AGI) claims the dependent.
- **Alternating Years**: Some parents alternate years, which can be agreed upon in writing.
For more specific advice, consider consulting a family law attorney.