Who gets the tax credit for the minor child?

So it's tax time, and you're separated or going through a divorce. You have a minor child or children, and you need to know which spouse is allowed to claim the child on their taxes as a dependent.

A quick review of the Section 152 of the Internal Revenue Code lets us know that the parent who has the child for more than half the year is allowed to claim the child on their taxes. This applies if you have a minor child, or a child that is over the age of 18 and a student, or otherwise dependent (through a disability for example),

But what if you have 50/50 or rotating custody with the minor child? Typically Courts will alternate the deduction between the parents year by year, or in the event of an even number of children, simply divide the children's deductions between the parties.

Interestingly, Section 152 goes on to explain that if both parties file for the deduction at the same time, and have equal custody of the minor child, then the party with the highest  gross income shall recieve the deduction (assuming there isn't a Court Order to the contrary).