Multiple Support Agreement
Categories: Tax
A deal negotiated between a bra and a jock strap. At least...if they happened to have a kid together (maybe one of those old-time bathing suits from the 1920s).
You and your ex have a kid. You both want the child to count as a dependent on your tax returns. However, you don't file together (because you're exes). So you sign a multiple support agreement. It's a document that says both of you can claim the child on your returns.
Why would you want to do this? Well, if you have a kid, you get a break on your taxes. However, not all parents file taxes together. They might be divorced. Maybe they just shared that one night together after a drunk Tinder hook-up. Whatever the reason, they file separately.
A multiple-support agreement allows them both to get the tax benefit. It stipulates that the people who sign it each get to claim a particular dependent on their taxes.
