If you’re going through a divorce, taxes may be the last thing on your mind. So, here are some tips for you on which filing status to choose after the divorce, who can claim the exemptions for the kids, and how payments to an ex-spouse are treated for tax purposes.
Couples who are splitting up but not yet divorced before the end of the year have the option of filing a joint return. The alternative is to file as married filing separately. It’s the year when your divorce decree becomes final that you lose the joint return option. In other words, your marital status as of December 31 of each year controls your filing status for that entire year.
Click the link below for more information on Exemptions for Dependents, Medical Expenses, Payments to an Ex-Spouse, Asset Transfers, etc.