Who Can Claim Preston for the Earned Income Credit?

According to the divorce decree, who has the right to claim Preston as a dependent?

Who can claim Preston for the earned income credit?

Answer:

Harriet has the right to claim Preston as a dependent for the earned income credit.

To be eligible to claim Preston for the earned income credit, Harriet must meet the requirements set forth by the IRS. Even though Ian has been the primary caregiver for the last two years, the divorce decree specifies that Harriet has the right to claim Preston as a dependent. This includes claiming him for the earned income credit, which is a tax credit designed to help working individuals and families with low to moderate incomes.

Since Harriet has the legal right to claim Preston as a dependent, she is also entitled to claim him for the earned income credit on her tax return. This tax credit can provide valuable financial support to families like Ian, Harriet, and Preston by reducing the amount of tax owed and potentially resulting in a refund.

It's important for Harriet to make sure she meets all the criteria for claiming Preston as a dependent and for the earned income credit to avoid any complications with the IRS. By claiming Preston for the earned income credit, Harriet can take advantage of this valuable tax benefit for their family.