ok this will be my first time doing my income taxes and im pregnant my baby is due on feb 10th can i file after hes born and add him as a dependent??
2007-01-05 14:13:51 · 9 answers · asked by chancey2006 1 in Business & Finance ➔ Taxes ➔ United States
Your getting the right answers toots : ) Born in 06 for write off in 06. File taxes in arrears. I with the way medical bills are make sure you include out of pocket med exp. shc. A
2007-01-05 15:06:52 · answer #1 · answered by Robert 2 · 0⤊ 0⤋
Nope, he's got to have been born in 2006.
I dont know your income, but this may save you some money this year:
You can, but you shouldn't. The estimated refund could be wrong and then you will have to fix it. You won't be able to e-file and it won't be saving you any time. If you get a refund anticipation loan for the estimated amount and it is wrong, you may end up paying more in the long run.
Make sure that you get the full benefit of your refund by staying far away from H & R Block or one of those other commercial places. The IRS has a program called VITA that does free tax preparation for households earning $40,000 or less. They can make sure that you get all your eligible credits, such as the Earned Income Tax Credit, the Child Tax Credit, the Dependent Care Credit, etc.
This is an absolutely FREE service. They can e-file and do direct deposit so that you can get your return back in 7-10 days. There is no need to get a refund anticipation loan, which is really nothing more than a high interest loan where you would be paying to borrow your own money. You have worked hard for your money and you should be able to keep it! To find a VITA free tax site near you, call the IRS at: 1-800-829-1040.
2007-01-05 15:37:31 · answer #2 · answered by rachkw81 2 · 0⤊ 0⤋
You will be filing for 2006 income (baby was not born in 2006).
When you file for 2007 income , you can list him as a deduction (next year)
2007-01-05 14:23:22 · answer #3 · answered by kate 7 · 1⤊ 0⤋
No. Your baby has to be born on or before December 31 in order to be included on your return for that year. You will have to wait until you file your 2007 return in order to claim him as a dependent.
2007-01-05 15:54:42 · answer #4 · answered by jseah114 6 · 0⤊ 0⤋
If you are a Canadian, you can apply for the Universal Child Care Benefit. It is $100 per month for each child under 6.
You can download the application on line from Revenue Canada Agency.
You cannot claim him as a dependent in 2006 return, but you can claim him next year.
2007-01-05 14:25:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Not for 2006. You will get to claim the baby as a deduction for the year 2007.
Best of luck with the new baby!
2007-01-05 14:23:26 · answer #6 · answered by anr 3 · 1⤊ 0⤋
No, you must have your baby before 2007 because you are filing 2006 tax returns, nice try, but next year you will be able to claim him.
2007-01-05 14:21:54 · answer #7 · answered by miky2tones 2 · 1⤊ 0⤋
I would say no, not this year, your taxes are based income and status from 2006, there may be a loop hole but I don't think so, you can count it next year though.
2007-01-05 14:27:12 · answer #8 · answered by wampaskitty2001 3 · 0⤊ 0⤋
You can but it would be disallowed since he was not born in the year you were filing.
2007-01-05 14:30:45 · answer #9 · answered by The Answer Man 2 · 0⤊ 0⤋