Who Needs Form 8332?
This form is used by a custodial parent to release or revoke a claim to exemption for the child so that the noncustodial parent can claim an exemption.
What is the Purpose of Form 8332?
The main purpose of this form is to give a noncustodial parent the chance to claim an exemption for a child. The noncustodial parent can also claim the tax credit and the additional child tax credit. The information provided in the form is forwarded to the IRS to make a decision regarding the taxpayer’s case.
What Other Documents Must Accompany Form 8332?
This form is completed by the custodian parent and sent to the noncustodial parent. The latter attaches the form to their tax return form. If the custodial parent releases the claim to the exemption for the child for a future year, this form should also be attached to the tax return.
When is Form 8332 Due?
The Form must be filed together with the taxpayer’s return. The due date is the same as the tax return.
What Information Should be Provided in Form 8332?
The custodial parent has to add the following details:
- Their name and SSN
- The name of the child
- The tax year
The form contains three parts which must be completed if required.
What do I Do with the Form after its Completion?
The completed form is forwarded to the noncustodial parent.