Financial Advice: Claiming Children For College Tax Credits

Question:divorce lawyer Ashley Hughes

I am looking for financial advice on divorce in regards to college expenses and tax credits.

I no longer pay child support but I would like to contribute to my daughter’s college education. It is my understanding that I cannot claim tuition that I pay because she is not my dependent.

However, can my ex-wife fill out a tax form that allows me to claim my daughter or the college tax credit?

Answer:

First off, I am not licensed in your state so I cannot provide you with financial advice. Also, I am not a tax attorney and as such would advise you to speak with someone who is in order to determine if you were able to claim the  tax credits for college.

There is Tax Form 8332 which her mother can fill out to allow you to claim your daughter as a dependent.

However as the primary custodial parent, I do believe that there are still exemptions that she can claim, which makes them unavailable to you. I do not know how that technicality interplays with the college tax credits.

Even if you can claim your daughter as a dependent utilizing Form 8332, I would recommend you consult with either a tax attorney or a CPA to discuss if you would even be able to deduct her college education expenses.

Consult with an attorney in your jurisdiction for specific legal advice on divorce as I have only provided you general information. Cordell & Cordell has men’s divorce lawyers located nationwide.

To schedule an appointment with a Cordell & Cordell attorney, including Ashley A. Hughes, a Staff Attorney in the Colorado Springs, Colorado office, please contact Cordell & Cordell.

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