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Is there a tax credit for having a newborn?

I sure hope there is a credit for my sweet 2 week old baby.

asked by sagasrikanth (43)

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Tags:  infants  taxes

answers

Yes, there is a tax credit for having children. You can claim your child or children as dependents on your takes until he or she is eighteen years of age.

5 votes

As long as your baby was born before Jan 1 (2010 for this year) and on December 30 (2009), the baby is a tax credit. Since the baby is already 2 weeks old -- you have the tax credit.

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posted by suze (326)
5 votes

It's not exactly a tax credit,but you will pay less in taxes. A newborn baby first qualifies as a dependent for the tax year in which they are born.

4 votes

Yes you can get tax credit for having newborn as per US tax Laws. You can get tax credit not only for newborn but till child is 17 years old.

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posted by RNR (128)
3 votes

You wiil be able to claim your baby on this year's taxes. Be sure to get a Social Security number as soon as possible if you have not already filed paperwork for it.

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posted by RRGKK (400)
3 votes

Any child born on or before December 31 of the tax year is counted as a dependent for that entire tax year; there is a standard deduction for each dependent.

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posted by Deb43 (289)
3 votes

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