If you truely have joint custody in that the child is with each parent 50% of the time, and you share the childcare expenses 50/50, then most parent switch off years with claiming tax credit on child care AND as a dependent. I don’t know if you can split the childcare costs. That would be an accountant question.
Now…in my case. We have ‘joint custody’ but I am the custodial parent, meaning the kids stay with me 75% of the time. Ex has every other weekend, plus Wednesdays, 2 weeks in the summer and shared holidays. In THIS case, I am assumed to be the one to claim the kids as dependents and have claimed child care expenses in the past. You can do whatever you want in sharing that tax advantage, but legally, if you are the CUSTODIAL parent, you have right to the dependent claim.
I am not a tax specialist and I would advise you to consult with an accountant or tax attorney before filing your taxes. Only the parent who had claimed the child as a dependent on their taxes can take any deductions related to the minor child.
Helena M. Nevicosi
Attorney with Rosen Law Firm
4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.787.6361 main fax
Charlotte Office
301 McCullough Drive
Suite 510
Charlotte, NC 28262
Main Phone: (704)307.4600
Main Fax: (704) 9343.0044
Durham & Chapel Hill Office
1829 East Franklin Street
Building 600
Chapel Hill, NC 27514
(919) 321.0780
The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service only, a full discussion with an attorney should be undertaken before taking any action. The information posted on this forum is available for public viewing and is not intended to create an attorney client relationship with any individual. These answers are provided for informational purposes only, a person should consult with their own individual legal counsel before taking any action that could affect their legal rights or obligations.
If parents have joint custody of the child and both are paying day care cost for when the child is with the parent, do both parents get to claim that on taxes, just the day care cost, or does the person who has the child the one more day only get to clain the day care expenses on taxes?