Comments on: On Doing Your Taxes When Your Child is Kidnapped http://thebillfold.com/2012/04/on-doing-your-taxes-when-your-child-is-kidnapped/ Everything About Money You Were Too Polite To Ask Sun, 19 May 2013 00:27:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: ImASadGiraffe http://thebillfold.com/2012/04/on-doing-your-taxes-when-your-child-is-kidnapped/#comment-4795 ImASadGiraffe Thu, 31 May 2012 21:40:28 +0000 http://thebillfold.com/?p=1570#comment-4795 @brilliantmistake IRS Auditor here. You cannot take a tax deduction for expenses incurred because of illegal activities. You do have to report the income earned and pay taxes on the income from illegal activities however. @brilliantmistake IRS Auditor here. You cannot take a tax deduction for expenses incurred because of illegal activities. You do have to report the income earned and pay taxes on the income from illegal activities however.

]]> By: brilliantmistake http://thebillfold.com/2012/04/on-doing-your-taxes-when-your-child-is-kidnapped/#comment-689 brilliantmistake Sat, 14 Apr 2012 02:12:59 +0000 http://thebillfold.com/?p=1570#comment-689 Does the kidnapper get to claim the kid as a dependent? Extra mouths to feed and all. Does the kidnapper get to claim the kid as a dependent? Extra mouths to feed and all.

]]> By: BuffyBot http://thebillfold.com/2012/04/on-doing-your-taxes-when-your-child-is-kidnapped/#comment-650 BuffyBot Fri, 13 Apr 2012 18:24:57 +0000 http://thebillfold.com/?p=1570#comment-650 I used to do taxes and would be researching something arbitrary and fall into one of these wormholes... Also depressing? Death or birth of child. A child who was born or died during the year is treated as having lived with you all year if your home was the child's home the entire time he or she was alive during the year. The same is true if the child lived with you all year except for any required hospital stay following birth. Child born alive. You may be able to claim an exemption for a child who was born alive during the year, even if the child lived only for a moment. State or local law must treat the child as having been born alive. There must be proof of a live birth shown by an official document, such as a birth certificate. The child must be your qualifying child or qualifying relative, and all the other tests to claim an exemption for a dependent must be met. Stillborn child. You cannot claim an exemption for a stillborn child. Seriously, who thinks of stuff like this? Well did he technically live for a moment? Cause then we get that sweet deduction to ease our pain! I used to do taxes and would be researching something arbitrary and fall into one of these wormholes…
Also depressing?
Death or birth of child. A child who was born or died during the year is treated as having lived with you all year if your home was the child’s home the entire time he or she was alive during the year. The same is true if the child lived with you all year except for any required hospital stay following birth.
Child born alive. You may be able to claim an exemption for a child who was born alive during the year, even if the child lived only for a moment. State or local law must treat the child as having been born alive. There must be proof of a live birth shown by an official document, such as a birth certificate. The child must be your qualifying child or qualifying relative, and all the other tests to claim an exemption for a dependent must be met.
Stillborn child. You cannot claim an exemption for a stillborn child.

Seriously, who thinks of stuff like this? Well did he technically live for a moment? Cause then we get that sweet deduction to ease our pain!

]]> By: Megan Patterson@facebook http://thebillfold.com/2012/04/on-doing-your-taxes-when-your-child-is-kidnapped/#comment-646 Megan Patterson@facebook Fri, 13 Apr 2012 17:37:29 +0000 http://thebillfold.com/?p=1570#comment-646 This made me laugh. I wonder how many people have had to use it? Although it's kind of a lame policy because most kidnapping are by people in your family. This made me laugh. I wonder how many people have had to use it? Although it’s kind of a lame policy because most kidnapping are by people in your family.

]]>