Even if you have signed as an owner-builder on the building permit: 1  you and a builder, contractor or tradesperson must enter into a written contract for domestic building work costing more than $5,000.
1 The parent who the child spends the most time with may claim the dependent. 2  If the child spends equal time between both parents, then the parent with the highest adjusted gross income may claim the dependent. 3  If only one of the taxpayers is the childâs parent, that parent may claim the dependent.
Since both parents above can legally claim their children on taxes due to the joint custody agreement, the parent who is waiving his right to claim the children for the year will need to sign form 8332, or similar statement, releasing the exemption to the filing parent.