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This article demonstrates how to complete Form 8332. |
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About Form 8332
Form 8332 allows a custodial parent to release a claim to an exemption for their child, this allows the noncustodial parent to claim an exemption for the child.
Form 8332 can be filed out to release the exemption for one tax year (Part I) or for all future tax years (Part II).
Form 8332 can also be filed to revoke a release of an exemption previously released (Part III).
In order for a noncustodial parent to claim any credits for a child, they must have 8332 signed by the custodial parent.
Form 8332 must be binary attached to the tax return.
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Completing Form 8332
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Select Add Form.
Begin by typing 8332, into the search bar at the bottom of the All Forms and Schedules Menu.
- Select Form 8332.
Locate and highlight Form 8332 in the All Forms & Schedules Menu. Double-click to add the form.
If a joint return, choose New Taxpayer's or New Spouse's Occurrence.
Complete the 1099-K8332, filling in all applicable sections.
Linking Form 1099-NEC To SCH C
1099-K must be linked to the appropriate form either SCH C (profit or loss from a business), SCH E (supplemental income), or SCH F (profit or loss from farming). 1099-K's received for goods or services must be linked to SCH C.
Begin by adding the appropriate schedule to the tax return (SCH C, E, or F).
Select Choices from the Active Options Window.
Select the SCH you wish to link to. Double-click to link.
You can view the linked income on SCH C Line 1.
Print Form 8332.
You can do this by selecting the Print drop-down menu and Current Form Only.
Once the noncustodial parent has signed the 8332, the customer will need to return the 8332 to you.
Scan the 8332 into your machine.
Binary attach Form 8332 to the tax return, see How to Upload a Binary Attachment.
Navigate to the 1099-K. Select the Link to (1040, SCH C, E, or F) box in box 1a of Form 1099-K.
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