Claiming child on taxes before finalization?

ChromaKelly · #1 01-10-2009, 06:31 PM

OK, our lawyer explained what to do, but I don't remember! Caleb doesn't have a social security number yet, the earliest we could possibly finalize would be March, but that would be cutting it close with getting our taxes filed before April 15.
How do we handle this? We don't have an accountant or anything.

mommamarci · #2 01-10-2009, 06:38 PM

Go to the IRS website and get the form to apply for an ATIN (adoption taxpayer identification number, I think). You use that in place of the SS#. Very easy to do and fairly quick to get back.

ChromaKelly · #3 01-10-2009, 06:41 PM

Thank you! I found the form on the IRS website. Form W7A for anyone else in this situation.

mommieof2cuties · #4 01-10-2009, 06:42 PM

Mamomamarci took it right out of my mouth.... she gave you the same advice I was going to give you!

Summer

mandirenee · #5 01-10-2009, 06:46 PM

One thing to note...we couldn't file electronically with the ATIN. That might have changed since 2 years ago, but just a heads up in case it hasn't.

tweetybirdus · #6 01-10-2009, 06:49 PM

We were able to efile last year with ATIN for our dd.

mommamarci · #7 01-10-2009, 07:03 PM

We filed electronically in 2007 with an ATIN.

Momtosons · #8 01-10-2009, 07:20 PM

Do you have to send this W7A form in to get the number? How long does it take to get the ID # back?!

I am SO excited about this! Thanks to the Navy screwing us over, we are in a pretty bad financial situation!

tweetybirdus · #9 01-10-2009, 09:10 PM

yes, you need to send the form in. it took about 4 weeks for us to get the number back so you need to do it soon.

sbaglio · #10 01-10-2009, 10:04 PM

Does anyone know how this would work? We've finalized, but are still in the process of obtaining a SSN, and would like to claim the adoption credit for 2008. Should wait until we get the number, is there a way to claim earlier (should we decide to file our taxes soon)?

Thanks!

aclee · #11 01-10-2009, 10:50 PM

Quote:

Originally Posted by sbaglio

Does anyone know how this would work? We've finalized, but are still in the process of obtaining a SSN, and would like to claim the adoption credit for 2008. Should wait until we get the number, is there a way to claim earlier (should we decide to file our taxes soon)?

Thanks!

I'm filing this year with an ATIN. I have to go get it, but you can still get it even if you have finalized. I can't get the social security number for Ty yet because MO takes forever on his ABC. His OBC is sealed, so I can't use that and court docs to get the SS either. So ATIN it is! I'm going Monday, so hopefully we get the # back in time. I want to file soon too because we are getting the tax credit this year.

If you have already filed for the SS then I believe you'll have to wait for it.

Nevada Jen · #12 01-10-2009, 10:55 PM

I ahte to be the bearer of bad news but you can only get an ATIN prior to finalization. If you finalize you cannot get it and have to wait for a SS#, at least that's what I was told by the IRS 3 years ago. If you are due a refund you don't need to file your taxes before the deadline anyway (according to my accountant) but if you owe you will either need to get an extension or file them with out the kid info and then file an amended return.

adoptingourfirst · #13 01-11-2009, 08:56 AM

I am soooo confused! So if you brought your child home in 2008 you can claim him/her on your 2008 taxes even if you aren't going to finalize until sometime in 2009? Really?!?

Proud2BHisMom · #14 01-11-2009, 09:35 AM

Quote:

Originally Posted by adoptingourfirst

I am soooo confused! So if you brought your child home in 2008 you can claim him/her on your 2008 taxes even if you aren't going to finalize until sometime in 2009? Really?!?

We brought our son home late 2007 and claimed him on our taxes using an ATIN (even tho we weren't finalized in 2007). It only took a couple weeks to get the tin (I actually called the IRS after I submitted the form and they gave me the number over the phone). The IRS rep did caution against filing electronically because the number was new and not likely to be in the system when we filed.

feelingreyt · #15 01-11-2009, 10:13 AM

[quote=adoptingourfirst]I am soooo confused! So if you brought your child home in 2008 you can claim him/her on your 2008 taxes even if you aren't going to finalize until sometime in 2009? Really?!?[/QUOTE

Depending on age and time frame, you may be able to claim a child that was placed in your home in 2008 as a dependant on your 2008 taxes. If the child is a newborn, then age and amount of time in your home requirements are already met, therefore, you may claim him.
However, you may not be able to claim the adoption credit. Normally the adoption credit is claimed in the year of finalization. There are exceptions to that though.

If you have not finalized, you can only claim expenses paid in 2007. 2008 expenses will be claimed in 2009. If you finalized in 2008, then 2008 expenses can be claimed in 2008. Make sense?
For International Adoptions, you can only claim your expenses once the adoption is final. Hope this helps!

Also, the credit has increased for 2008 to a max of $11,650. In 2009 the credit will increase to $12,150! For those that can claim the full amount, if possible, I'd wait until next year!

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