Definition Dependency Exemption - a sum of money a person can subtract from his or her adjusted gross income for each dependent child he or she claims, as per the guidelines of the I.R.S.
Application in Divorce The dependency exemption normally goes to the parent with primary physical custody.

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  1. Both Parents Claiming Same Child on Tax Returns
    If both parents claim the same child as a deduction, the I.R.S. will notice and will audit.
    Contributed on 6/28/2007 by: DivorceDex.com Staff
    Category: Tax Consequences  (Applicable in All States)
  2. Colorado Child Support Dependency Exemption
    In Colorado, the court may order, or the parties may agree, to allocate the dependency exemption for a dependent child between the parents for state and federal tax purposes as a part of any support order.
    Contributed on 8/8/2008 by: James, Kirsh, Inness-Brown & Ware LLCBoulder, CO[Total Submissions: 1]
    Category: Tax Consequences  (Applicable in Colorado)
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