Discussions

We are divorced parents, and our child lives with each of us for six months a year. We both pay child care costs, but we're not sure which of us is eligible to claim the tax credit for these expenses. How does the IRS determine who can claim the credit in a case of joint custody? If both parents apply, how does the IRS decide who gets the credit? And if one parent has already used a Flexible Spending Account (FSA) to cover part of these expenses, can the other parent claim the remaining amount through the tax credit?