Should I wait for child before tax filing.?

Question

I am expecting my first baby in the first week of January.
(Thanks for your congrats :-)) I was wondering if I wait until the arrival of the new born,if it helps siginicant claim in tax refund cliaming?

Thanks

Answer 1

You can start claiming the child when the child is born even for a moment. Being pregnant does not count nor do stillbirths. Your exemption for the child when he/she is born in 2008 would be $3,500.

Answer 2

It will have no effect, because a child cannot be claimed on a tax return for any year prior to the year of the child's birth.

However, if you can convince your doctor to induce premature labor, so that the baby is born in December, then you can claim the baby. (The doctor should refuse unless you have a better reason that the tax benefit.)

Answer 3

No, unless the baby is born before the end of 12/31, you can't claim the baby anyway, so there's no advantage.

Congrats and good luck.

Answer 4

Yep, you baby has to be born in 2007 to be claimed on your income tax refund. Now Babies do come early, if you are healthy and so is your baby, there are things that can induce labor early. Hint, have sex. If you want some more Im me.
contrants on the birth of you first born.

Answer 5

You can't claim an unborn child, so it really won't matter for 2007 unless he or she comes a little early. The child would have to be born before the stroke of midnight on the New Year to be claimed on your 2007 return.

(And if a doctor agreed to induce labor early or perform a C-Section for any reason other than medical necessity, get a new one; you'd be dealing with a quack.)

Answer 6

Boston is quite correct, unless the little one arrives in 2007 you can receive no tax benefits for him/her/them(?) until you file for 2008 in 2009.

Answer 7

There's still time! Induce labor or get the caesarean, now. Taxes saved this year are better than taxes saved next year.