billings
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12-07-2019
01:01 AM
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Custodial parent signs release (form 8332) to non-custodial parent. Can the custodial parent claim the EIC and Child Care credit?
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itonewbie
Level 15
12-07-2019
01:01 AM
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Yes. Under Prop. Reg. §1.152-2(g)(3) and Notice 2006-86, only the custodian parent is eligible to claim EIC and Dependent Care Credit in relation to the qualifying child in spite of the release. The non-custodian parent to whom the release is given is allowed to claim the qualifying child only for dependency exemption (which is temporarily reduced to $0 by TCJA) and CTC.
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