I am due in February and thought that I would have to wait until I file my '08 tax return to claim my baby as a dependent, since it isn't due until after 01/01/08. However, I was told that as long as the baby is born in enough time to get a SSN for it before I file my '07 taxes in April of '08 I can claim it as a dependent. Is this true, or did I just confuse you all?
2007-09-10 08:01:04 · 15 answers · asked by sweetiepi44 2 in Business & Finance ➔ Taxes ➔ United States
I thought I would have to wait until I filed my '08 taxes! Thanks for all of your help, I'll be sure to correct my friend!
2007-09-10 08:37:37 · update #1
You can only begin claiming a baby in the year that it is born. To claim your baby for tax year 2007 he/she would have to be born by 11:59:59 on December 31, 2007. If the baby is born in 2008 you can't claim him/her for 2007.
And, no, you didn't confuse me at all, but whoever told you that if you got a social security number for the child before you filed your 2007 taxes that you could claim the child for 2007 even if he/she was born in 2008 is totally wrong.
2007-09-10 08:05:36 · answer #1 · answered by Anonymous · 3⤊ 0⤋
It has to be born by the end of the tax year. It does not matter when you file. If it is born after 01/01/08 and before 01/01/09, you claim it for all of 2008 (on the return filed in 2009) and none of 2007 (on the return filed in 2008).
However, you can ask a doctor to induce labor early so that the baby is born in 2007. Not sure if a doctor would do this for tax purposes, without a medical reason.
2007-09-10 08:09:43 · answer #2 · answered by StephenWeinstein 7 · 0⤊ 0⤋
You were told wrong. The baby must be born during 2007 to claim him or her as a dependent for that year. One minute until midnight on 12/31 would work, but not 1 minute after midnight 1/1/08.
2007-09-10 09:04:58 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
I'm due in December and I know that I can claim her on my '07 taxes. I believe that in order to claim a new dependent that you must have supported it during the 07 tax year.
Found it! According to H&R Block:
Question: Tax-wise, is there a good time of year to plan to have a baby?
Answer: As long as the baby is born before midnight on December 31, you can take the exemption and the child tax credit (if your income does not disqualify you) for the entire year.
2007-09-10 08:08:04 · answer #4 · answered by Nicole V 2 · 1⤊ 0⤋
No, you can't claim exemption for the child in the year 2007 even if you get Social Security number before April 15, 2008, the date for filing of 2007 taxes.
2007-09-10 08:12:09 · answer #5 · answered by MukatA 6 · 1⤊ 0⤋
No, your child has to be born before dec 31st 2007,11:59 p.m in order to claim him/her as a dependant for your 2007 taxes, if your child is born in 2008 you can not claim them for this year
Death or birth of child. A child who was born or died during the year is treated as having lived with you all year if your home was the child's home the entire time he or she was alive during the year. The same is true if the child lived with you all year except for any required hospital stay following birth
2007-09-10 08:05:01 · answer #6 · answered by reznor5172002 3 · 1⤊ 0⤋
As everyone has stated. The baby's DOB is the determining factor. He/She has to be born in '07 to be a dependent in '07. My baby was born 11 weeks early, so we got him as a dependent in '06. I would have rather he was full term though. :)
2007-09-10 11:47:12 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no that doesn't sound right... you can claim if born before 12/31/07 and then get social card to claim on 07 taxes but if not born you can not....
2007-09-10 08:05:28 · answer #8 · answered by De 5 · 1⤊ 0⤋
The year that the kid is born in is the year that you can claim the kid. Period, end of discussion. The date of the issuance of the SS card is not relevant.
And that is one of the most confusing questions I have ever heard since Goldie Hawn or maybe Gracie Allen.
2007-09-10 11:40:03 · answer #9 · answered by Steveo 5 · 0⤊ 0⤋
I believe that your child has to have lived with you for a full year before you can claim him/her as a dependent. And being pregnant doesn't count. I know I couldn't claim my daughter until the year after she was born. You should ask someone who is a tax preparer.
2007-09-10 08:14:20 · answer #10 · answered by Isa 2 · 0⤊ 2⤋