Posted: 12/15/2007 6:06:01 PM EDT
| If I had a child in December of 2007, can I count her as a tax deduction for 2007? I have had two people tell me two different things and I am trying to figure out if I will have a big enough tax return to buy a 1911. Thanks |
www.irs.gov/faqs/faq-kw25.html 2.3 Filing Requirements/Status/Dependents/Exemptions: Dependents & Exemptions My son was born on December 31st. Can I claim him as a dependent? If so, will he be also qualified for the Child Tax Credit? If your child was born alive during the year, and the exemption tests are met, you may take the full exemption. You may be entitled to a Child Tax Credit for him. Please refer to Publication 501, Exemptions, Standard Deduction and Filing Information. Please Refer to the Form 1040 Instructions for information about the Child Tax Credit. References: Form 1040 Instructions Publication 501, Exemptions, Standard Deduction and Filing Information Tax Topic 354, Dependents |
