Dependent Deduction

[oceanlovin'ea]

I just had to share this with all of you. A young friend of ours is around 20 and expecting her first child January 8th. We were sitting around the campfire this weekend discussing her delivery. Someone told her she should hope the baby is born in December so they would get the extra exemption.

With a very straight face, she said oh her dad told her not to worry about that because the IRS had changed the exemption requirements and if the baby is conceived during 2005 that they can claim the exemption even if it isn't born until 2006. Then she said to me "Did you know about that?"

I told her I had not heard anything about that and that I didn't think IRS would ever do that. She said" Oh, my dad keeps on top of all those kinds of things." He is in invesment real estate.

So have any of you heard about the new ruling?

Linda F

[jimmcg]

Dependent Deduction

I believe you will need a new social security number before conception........Seriously I believe someone is having fun with you.

[jainen]

I understand

I understand how you prove the date of birth, but how do you prove the date of conception?

[oceanlovin'ea]

Miscarriage

Right and what if you claimed the deduction based on conception in November or December and then miscarried before birth. Would you have to amend the return?

IRS pubs say "Born alive"

Linda F

[Armando Beaujolais]

I just had to share this with all of you. A young friend of ours is around 20 and expecting her first child January 8th. We were sitting around the campfire this weekend discussing her delivery. Someone told her she should hope the baby is born in December so they would get the extra exemption.

With a very straight face, she said oh her dad told her not to worry about that because the IRS had changed the exemption requirements and if the baby is conceived during 2005 that they can claim the exemption even if it isn't born until 2006. Then she said to me "Did you know about that?"

I told her I had not heard anything about that and that I didn't think IRS would ever do that. She said" Oh, my dad keeps on top of all those kinds of things." He is in invesment real estate.

So have any of you heard about the new ruling?

Linda F

Actually it's part of the new laws that set forth the uniform definition of a qualifying child.

New IRC section 152(b)(1) states the following:

"Ha ha. Had you going!@"

I can see it now. A new IRS form. "Conception Verification Declaration," complete with activity codes. Somehow I really doubt it.

Ah, yes. Campfire stories. Some tall tales told around campfires.

Like the time I was fishing next to this big tree that had fallen in the water. A squirrel ran out onto the tree and grabbed one last acorn that was clinging to one of the twigs. Suddenly a huge bass jumped out of the lake and "GLOP!" the squirrel and the acorn were gone.

I was stunned and just sat there watching the ripples fade away.

The really amazing part was when that big bass swam back up to the surface and spit that darn acorn back out onto the tree.

[jainen]

Good one

Good one, A-B. Actually, good two.

[Bees Knees]

Like the time I was fishing next to this big tree that had fallen in the water. A squirrel ran out onto the tree and grabbed one last acorn that was clinging to one of the twigs. Suddenly a huge bass jumped out of the lake and "GLOP!" the squirrel and the acorn were gone.

I was stunned and just sat there watching the ripples fade away.

The really amazing part was when that big bass swam back up to the surface and spit that darn acorn back out onto the tree.

Is that the same time you woke up the next morning and started feeding that bear?

http://www.quickfinder.com/pdf/bear.jpg

Sometimes you can tell campfire stories with pictures.

[Armando Beaujolais]

Is that the same time you woke up the next morning and started feeding that bear?

http://www.quickfinder.com/pdf/bear.jpg

Sometimes you can tell campfire stories with pictures.

Just like I tell my kids. "You can't hurt steel!"

Actually I needed to get to the store so I was using the cub to lure momma out of the woods. Sure enough, it wasn't long before she came charging out of the bushes, and none too happy if I say so myself. I hopped on and rode her all the way to town. She was exhausted by the time we got there. So I got my can of pop and let her crawl up onto my shoulders and I carried her back to the woods.

[Nancy]

Legends and myths

Where to these ideas come from?

I had friend of a friend tell me she had heard that if a baby was born during the first 14 days of the next year, you could claim the baby as a dependent in the previous year. I asssured her that this was not correct and that the IRS would immediately disallow the claim.

But, what I want to know, is where do these myths come from?

[Jesse]

Add alcohol

Where to these ideas come from?
But, what I want to know, is where do these myths come from?

It always seems Christmas and New Years cheers at the local tavern get the telephone ringing........I was talking to Joe Blow last night and he said....can I really do that?

[Bees Knees]

Actually I needed to get to the store so I was using the cub to lure momma out of the woods. Sure enough, it wasn't long before she came charging out of the bushes, and none too happy if I say so myself. I hopped on and rode her all the way to town. She was exhausted by the time we got there. So I got my can of pop and let her crawl up onto my shoulders and I carried her back to the woods.

That's not how I remember it. I seem to remember you diving into the lake the second mom came charging out of those woods.

[taxmandan]

Where?

Where to these ideas come from?

The Contractor's desk at Home Depot, talking with the other contractors. Their barber/hair stylist who gets the latest tax news from their clients who are babysitters, real estate developers, lawyers, et al. and they pass it along to their many customers as gospel. Urban myths are popular because they give these folks hope that they can dodge the taxes like everyone else, no one wants to be the only person paying taxes.