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i have a tax question! If my daughter was born in August of 08, will I get the tax credit for having a dependent?

If so, how much is it. I want to buy a house with my coming up tax return! I know I can file single, head of house hold and 1 dependent.

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Asked by lovinsophie at 10:09 PM on Oct. 7, 2008 in Money & Work

Level 2 (9 Credits)
Answers (5)
  • Not sure about the amount and your income, etc but yes you should be able to claim her if you qualify.

    Answer by Mimomof3boys at 10:11 PM on Oct. 7, 2008

  • you will be able to claim her.... as for the amount... two years ago my best friend had a child by herself her income was 28000 and she got back almost 6k! nice right??? idk what that figures out too.....

    Answer by BabyBugsmama at 10:14 PM on Oct. 7, 2008

  • your child can be born at 11:59pm on Dec 31st and you get to claim them for the whole year. The figures cvhange all the time. Go to the IRS website to find the amounts.

    Answer by GrnEyedGrandma at 10:16 PM on Oct. 7, 2008

  • If you're talking about the child tax credit, that is $1000 per child, unless you didn't make enough. You have to make over a certain amount to get that, otherwise it's just equal to your tax liability. It's not a refundable credit, so it can't go over your liability. Depending on what you make, you could probably qualify for the earned income credit. And then you should get back all or most of what you paid in as well. I have an accounting degree with a focus in Tax, so if you have any other questions, feel free to message me!

    Answer by WadeMom313 at 11:38 PM on Oct. 7, 2008

  • The PP that said you could have the baby at 11:59:59 on 12/31 was right! I'm hoping to make the deadline this year myself! lol

    Answer by kabbot01 at 6:42 AM on Oct. 8, 2008

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