Throughout the tax season I will be answering one tax question per day.
Today's question comes from B. O'Leary in New York. He asks, "My ex-wife and I have joint custody of our child. If I claim our child as a dependent, can my ex still claim head of household (without claiming the dependency with "qualifying person")? Thanks."
How it works is like this. The parent with whom the child lived for more than half the year would waive his or her claim to the dependent's personal exemption. So the other parent would claim the dependent's exemption, the child tax credit, and any education deductions or credits. The first parent (with whom the child lived for more than half the year) would still be eligible for head of household, the child care credit, and the dependent care FSA.