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I have custody/time-sharing of our children. Can I claim the child as a dependent?

Typically, the parent where the child spends the most time will claim the child as a dependent on their taxes. If a parent has 50/50 time-sharing, then they will typically have an agreement where the parents will rotate claiming them. One year with one parent, the next year with the other. Most of the time that issue is handled in the divorce, and so the parties know well ahead of time whether they are going to claim the child or not.