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What income tax deduction can we take for our child?
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??????
Thanks for the quick responses.
5 Answers
- 1 decade agoFavorite Answer
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
Source(s): imho - mucho tax experience - 1 decade ago
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.
Source(s): Tax Advisor irs.gov - 1dayatatimeLv 41 decade ago
Yes, you can take the deduction. I'm including a link to the IRS site showing what deductions can be taken for children.
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