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.
Special rules apply to divorced parents. Technically, you're both eligible to claim your child, so the IRS has tiebreaker rules to decide which one of you can do so if there's a dispute. The tiebreaker rules give the dependent deduction to the parent with whom your child lived most during the tax year. This must amount to more than six months.