How does child support affect my income taxes?
Asked Jul 21, 2012, 07:25 AM
I have recently started paying for child support. I'm paying $331 a month because my child's father makes half of what I do. We are paying my son's paternal grandmother. Now that I have providing support to my child I'm curious how it will affect my income taxes at the end of the year. Is child support tax exempt? Since I'm paying more and providing health insurance for my son does that mean that I'm providing 1/2 of his yearly support and if so can I claim him on my taxes at the end of the year?