Taxes can be tricky to figure out sometimes, and since it’s tax season, you may be worried about specific things that may come up when doing your taxes, such as child support. For instance: Is child support tax deductible? If you have to pay child support, do you also have to pay taxes on your child support payments? Can you claim your child on your taxes if you pay child support and your child doesn’t live with you? These are some of the questions that may be concerning you during tax season if you have to pay child support. The answers:
Is Child Support Tax Deductible?
Simple answer: no, it isn’t. Child support payments are required by law to be paid for the child’s needs and are therefore not tax deductible.
If You Have to Pay Child Support, Do You Also Have to Pay Taxes on Your Child Support Payments?
No. Paying child support is like paying any other bill (power, gas, car insurance, rent, etc.) You are required by law to pay child support but like paying any of these other bills, you do not have to pay taxes on it when it comes time to pay your taxes.
Can You Claim Your Child On Your Taxes If You Pay Child Support and Your Child Doesn’t Live With You?
Yes. This, However, is a decision that must be made with the child’s other parent as only one of the parents is allowed to claim the child as a dependent on their taxes. If the child’s other parent has other children that they are going to claim on their taxes, they might be willing to let you claim your child on your taxes. Also, in order for you to claim your child as a dependent on your taxes, you must contribute at least fifty percent of the child’s total financial welfare during the tax year. In other words, you have to have paid for fifty percent of all the child’s food, clothing, shelter, etc. in order to claim them as a dependent on your taxes.
Other things can affect how you file your taxes and what you do about child support payments and other financial assistance you have given to your child throughout the course of the tax year, such as: If you and the child’s other parent have lived together for part of the year, if you have contributed more than fifty percent of the child’s support during the tax year, if you and the child’s other parent are legally separated and not divorced, etc.
All of these questions and more can be answered more thoroughly with the assistance of a tax attorney or by visiting montesfamilylaw.com.
Works Cited
Callejas, Rosy. “Child Support and Taxes.” Nolo.com. Nolo, 2015. Web. 24 Feb. 2016.
