That Both Parents, Divorced or Separated, Can Now Claim Certain Tax Breaks Regarding Their Children?

Settlement agreements specify who will be claiming the dependency exemption, and that exemption can be released in future years. Some tax breaks, for example the Child Care Credit, belong to the custodial parent even if that parent releases the exemption to the noncustodial parent. But what about other tax benefits that may be attributed to the payor parent, who is not entitled to the dependency exemption?

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