IRS Form 8332 is a tax form used by custodial parents to release their right to claim a child as a dependent to the non-custodial parent. This form is particularly relevant for separated or divorced parents. It allows the custodial parent to transfer the tax benefits associated with the dependency exemption to the non-custodial parent for one or more tax years.
By signing Form 8332, the custodial parent enables the non-custodial parent to claim the child tax credit, additional child tax credit, and other tax benefits that require the dependency exemption. This form ensures that the IRS acknowledges and accepts the arrangement without disputing the claim at the time of tax filing.
Other IRS Forms for Individuals
The form for custodial parents might be not the only one you need to fill in when it comes to taking custody of children. Check what other forms might be necessary for you in this situation and in general.