I take care of my wonderful grandson, age 5, five days or more a week. I buy all his clothing, feed him my food, and take him to the doctor when needed, getting his meds, etc. Is there any type tax deduction for this? It really gets costly..........but, I will continue to do it, even if I don't have any tax help with it.
2007-02-25 05:56:18 · 3 answers · asked by laurel g 6 in Business & Finance ➔ Taxes ➔ Canada
If he he lived with you for more than 50% of the year, and you provided 50% or more of his expenses, then yes you can claim him as a dependent. However, if his mother/father claim him first, you won't be able to. It's first come first serve! So file quickly.
2007-02-25 06:01:56 · answer #1 · answered by Navydoc 2 · 1⤊ 1⤋
If he lives with you for more than half the year and not with a parent, then you might be able to claim him as a dependent. If he lives with a parent but stays at your house every day during the workweek, then no you can't claim him as a dependent.
And if you can't claim him, then there aren't any deductions available for his expenses. If he's your dependent, then you could deduct a portion of his medical expenses if you itemize. Clothing and food wouldn't be deductible even if he was your dependent.
2007-02-25 14:25:18 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
It is best to communicate with the legal guardian of your grandchild. His mother and/or father, if they are listed a legal guardian your claim for dependency will be turn down.
You can itemize the expenses for your grandson during the year and write them off under the proper expense on the 1040.
2007-02-25 14:21:27 · answer #3 · answered by whatevit 5 · 0⤊ 0⤋