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Posted by Arthur Kamlet on August 19, 2008, 12:28 pm
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>IRS Provides Circumstances Under Which a Child of Divorced or
>Separated Parents Will Be Treated As a Dependent of Both (Rev. Proc.
>2008-48)
>
>I expect this will make for an abundance of amended returns. I'd have
>to review thousands of returns to properly serve the interest of those
>affected. Athough I like the ruling, I'm not happy about the work it
>will entail-:)
Jack
As I understand this - and it is long and filled with pointers
to other code sections -- what this does is adds qualifying children
to the allowed list of Dependents for Medical purposes.
It has long been the rule that a parent could claim a medical
deduction for a child even if he could not claim the dependency
exemption. Even if the other parent claimed the dependency
exemption.
Moreover, and for this RevProc, an employer medical plan hat covers
the employee's dependent child can now officially cover that child
even if the other spouse claims the dependency exemption.
As I see it, this cleans up the language, and brings it into
line with the Sec 152 stuff that was modified by the qualifying
child rules.
Importantly, this RevProc does not allow the Dependency Exemption
to go to both parents.
I think the Pub that might get modified, and then only slightly,
is Pub 502 [medical] and not Pub 501 [filing status and dependency].
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
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