2006-07-18 15:37:11 · 16 answers · asked by michaelyoung_airforce 6 in Business & Finance ➔ Taxes ➔ United States
I know for a fact that you can claim your baby..Mine was born on Dec. 26th, and we got to claim him.But you also we have to get a social sercutiy card before doing your taxes most of the time, or you may be able to take the baby's birthcertifate from the hosptial and do your taxes that way. I'd call and check with your tax person
2006-07-18 18:05:05 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Yes! This is the coolest thing about having a child in December. You can claim them for the whole year. Our son was born on Dec. 31st and our Dr. said "Congratulations, it's a tax break!"
Congrats to you!
2006-07-18 15:41:17 · answer #2 · answered by iahp_mom 4 · 0⤊ 0⤋
Yes.
In this example, the personal dependency example is not prorated for the "days lived", it is an all or nothing credit for the entire year.
The same works for someone deceased (although there are rules for married couples).
So theoretically my child could be born and die in the same year and I would be able to tax the tax credits. (Sorry for the cold example.)
I should note to be prompt in filling out your new child's social security application at the hospital. You will need their number before you file your taxes. Hopefully you will have enough time from their birth until your W2/other tax information is available.
Good luck and congratulations!
2006-07-19 05:24:39 · answer #3 · answered by Molly 6 · 0⤊ 0⤋
yes you can as long as the baby has been born alive you can take the credit if he is born this year. there have been sad cases when the baby has only survived a few hours and even in this sustain you can claim the child on your taxes.
2006-07-18 17:04:50 · answer #4 · answered by MYRAJEAN 4 · 0⤊ 0⤋
The baby can be born on december 31st as long as its before midnight and you can claim them
2006-07-18 15:41:31 · answer #5 · answered by vanembryzoe 2 · 0⤊ 0⤋
As long as he/she is born in 2006, even 1 second before midnight on New Year's Eve, you may include on your 2006 taxes.
2006-07-18 15:43:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
user-friendly answer: run your taxes the two techniques next 365 days and document whichever way provides your spouse and young ones the biggest entire refund. My wager: you will do extra desirable well-known with the aid of having him declare the infant. with the aid of the way, being a single mom isn't any distinctive than being a single dad, the tax reward are the comparable. surely there is no longer a single place interior the 17,000+ pages of the IRS tax code the place gender makes a distinction in any component of taxes. some thing to bear in mind: Your BF can document as head of spouse and young ones if he claims the newborn. in case you declare the newborn, you won't be able to document as head of spouse and young ones. it is using the fact between the standards for HOH status is which you pay over 0.5 the cost of conserving a house on your newborn. If he makes extra beneficial than you do, he will pay over 0.5 the spouse and young ones expenses so which you does no longer qualify for HOH. So your 2 concepts (assuming BF makes additional funds than you) are: determination a million: You document as single. He documents as HOH and claims the newborn. determination 2: You fils as single and declare the newborn, he documents as single without dependents.
2016-11-02 07:52:15 · answer #7 · answered by porterii 4 · 0⤊ 0⤋
I believe you can, if your child was born before Jan 1 2006.. You need to consult an expert though cause i'm just guessing..
2006-07-18 15:40:49 · answer #8 · answered by Mexitaliana 3 · 0⤊ 0⤋
You bet! Great tax planning on your wifes part! :) Congrats on the new addition.
2006-07-19 02:40:39 · answer #9 · answered by extra_37 4 · 0⤊ 0⤋
YES - Absolutely
2006-07-18 15:40:29 · answer #10 · answered by Anonymous · 0⤊ 0⤋