He was born on new years eve. Does he have to be a member of our household more than half of the year to be eligible for any tax deduction??????
2007-02-02 04:57:12 · 5 answers · asked by texandc2002 6 in Business & Finance ➔ Taxes ➔ United States
Thanks for the quick responses.
2007-02-02 07:16:12 · update #1
If he was born 12/30/2006, he is a tax deduction for you!
You would indicate he lived with you 12 months for tax purposes.
good luck & blessing
2007-02-02 05:00:39 · answer #1 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 1⤋
If your child was born before Midnight on New Years Eve, then you can claim him for the entire year even if he was born at 11:50pm. Depending on your income, you can have Earn Income Credit if you make less than $32,000, you can get Child Tax Credit if you make between $11,000 and around $110,000 the credit starts facing out. But you can get his dependency exemption.
It all depends how much you make.
2007-02-02 05:08:55 · answer #2 · answered by yarrie15 2 · 1⤊ 0⤋
Yes, you can take the deduction. I'm including a link to the IRS site showing what deductions can be taken for children.
2007-02-02 05:07:15 · answer #3 · answered by 1dayatatime 4 · 0⤊ 0⤋
No. You supported him in the year - he's a deduction.
2007-02-02 05:04:35 · answer #4 · answered by jennifer74781 4 · 0⤊ 0⤋
no, as long as he was born last year, you can claim him.
2007-02-02 05:37:01 · answer #5 · answered by Nichole S 2 · 0⤊ 0⤋