Celebrate National Adoption Awareness Month - 30 days of ideas to help promote adoption.
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#1
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We've had our son since July, and won't be finalized until after the new year - are we able to claim him on taxes or do we have to wait until after finalization?
Also, he is very very skinny and small for his age and needs to gain some weight. Part of it is genetic, his mom is a beanpole, but even so, his weight is really low (he's 13 and only 67 lbs) and the doctor wants him to gain. Problem is the adderall takes away his appetite, especially at lunchtime. I've been providing him with big hot breakfasts and suppers and bedtime snacks, and constantly offering yummy's to tempt his appetite - adding ovaltine to his milk - anything to get him to eat. Nothing is working, he's willing but just isn't hungry and becomes full easily. Any ideas? (meanwhile mom and dad are "atkins"-ing and trying to lose, and I'm trying to teach my beautiful healthy-weighted pre-teen daughters food isn't an issue!! LOLOL) Sherry |
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#2
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taxes and meds
Whether or not you can claim your child on the taxes prior to finalization is determined by the amount of support in a certain time frame that is provided ... there is a formula to figure out same in the tax instructions. Be sure and do it both ways - with the foster care/adoption subsidy payments added in as income and claiming him and without adding them in and not claiming him - sometimes not claiming him works to your benefit especially the first year.
Many ADHD medications have different effects on different children. Adderall is known for affecting the appetite in most chiildren - especially the skinny ones. Concerta might be a better choice for him - ask his prescribing doctor regarding other alternatives. Hope this helps. |
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#3
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--this is not tax advice--
but my book reads that "if the child is placed with you for the purpose of adoption" at any time during that year, you can claim him as a dependent. The other thing is the subsidy (if you get one). If your subsidy is $300 a month and you can prove you spent $301 a month, you can claim him as a dependent without claiming the subsidy as income. I found Adderal to be a major appetite suppressor too and we switched to Concerta. That works better for my ADHD son all around. It still suppresses his appetite but nowhere near the degree Adderal did. He eats like a horse on weekends, holidays and during the summer when he is not on meds. |
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#4
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Ask you pediatrician about adding a medication to increase appitite. My son couldnt take the Concerta cuz it tore up his gut but takes adderall. Each kid is differant. But at one time I was concerned about no weight gain too. What is his height? And what has his growing level/rate been. My son seemed small to me but was still at his same growing rate on the index chart. But she said there is always the option to adding that drug to help him gain weight.
As for the girls, youch! My daughter is big and has always been but she was born at 110th percentile, she is 5'4 and 138 she thinks she is obese and will go a few weeks with out eating and then eat. Wants to be twiggy. And refuses to believe that Being at 110% is going to stop her, she will never be petite no matter what. Doc told me not to worry. Something I have done that is helping is everyone eating healthy. Everyone walking. Don't buy the junk food. They learn to eat apples and such, snack on cheese yogurt. Babies are so much easier. I will never be ready for this teen crap, no matter how old I get. lol good luck!
__________________
Take Life...One Day At A Time Remember God gives us a fresh new morning to 'GET IT RIGHT" |
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#5
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Fortunately, my daughters don't have any food issues at all - they make sensible choices and have healthy diets :-)) I think it's because up until last year food WASN'T an issue and I usually let them choose what to eat and how much (as long as it wasn't junk food) and it was pretty much regular mealtimes etc.. It's a new thing for us to have "diets" in the house.
As for the taxes - how would you break down how you spend your subsidy on the child? We are a family of five, do I simply take our total expenses, divided by five, and see if it's more than the subsidy? (in that event, we spend more by a longshot!) We have a follow up appt after new year's with the pediatrician and I'll ask him about concerta. (how is it different from adderall?) I love my son's personality when he's not on the meds - but he really does need them to stay focused, without them he's very impulsive. When he's on the meds, he's "normal" with regard to ability to focus and control impulses, but he also seems to be a little too "flat" in mood (my opionion). I'm just so new to this! All advice appreciated :-D |
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#6
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Yes, most expenses you would total up and divide by 5, for instance car payment, house payment, electric, water and cable bills, food, etc. Other things that are specifically for him --tuba lessons, orthodontics, school expenses, clothing etc-- are added in to just that child's expenses.
I have a file I restart every January, that I toss every receipt into. If it is a receipt for a specific child, I write that childs name on the top of it and toss it into the big file too. I don't do anything to it, but I know I spend way more than the subsidy per child, and I can prove it if IRS ever asks me to. It might take me a few weeks to sort the receipts but I could prove it hehe. You might want to actually spend the time totalling the expenditures up just to be sure that you are spending more than the subsidy. If you were really together you could do it monthly and bundle them (ROFL) I am anally organized about everything but I can't even see ME doing that. |
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#7
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Ok I'm lost here. I thought you didn't pay taxes on subsidy. I have never been able to get a clear and definitive answer on this. Does it vary from state to state? Why isn't anyone sure? Even my worker was clueless.
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#8
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tax
This is how I understand it. You do not pay a tax on the subsidy. Additionally, if you spend more than the subsidy, you can also claim the child as a dependent. I go to a tax preparer, and I am pretty sure that is how she figured it. If you spend less than the subsidy on the child, you can not claim the child as a dependent.
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#9
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I read all this and called the IRS to check. You are right. The subsidy isn't counted in your tax. But whether you can count the child as a dependent depends on whether you spend more than 50% of his support. Figure that like the other poster said- all your expenses plus any specifically for child divided by number of family members.
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#10
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My post was a little vague there about the amount you have to have spent on the child. If your subsidy is $300/month you must show you spent $601 on the child to be able to claim him/her as a dependent.
You must show where you spent the original $300 subsidy and then show that you spent $301 of your personal income on the child to be able to claim him/her as a dependent. Total expenses can include things like gasoline, family boat costs, membership to a family club etc. But they cannot include things like dad's deer lease expenses or mom's nail appt fees. You can't add things in like sister's dance fees and divide by 5. But you could add in cost of birthday party for 40 children. It has to be related to the child in some way. |
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#11
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You only have to prove you spent more than 50 % of his support if he was placed with you as a foster child. Once the adoption is final, you do not have to claim his subsidy nor do you have to prove 51% support for him. After adoption it is as if the child is born to you. You can claim him even if you spent no more on him that what his subsidy is. The support test is only for foster children.
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#12
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What about a foster child placed in your home for the purpose of adoption?
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#13
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foster child
The child is still a foster child until the adoption is finalized.
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#14
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This is for the child tax credit. It states:
Tip: A foster child placed in your home for purposes of adoption by you is considered by the IRS to be an adopted child, even if the adoption is not finalized for a year or more. Therefore, the full year residence is not required in this situation. This is the website it came from: http://www.caseyfamilyprograms.org/c...x_benefits.doc So you CAN claim the child as a dependant. You must be able to prove you've paid over 50% of your child's support. Don't forget to use your fair market rental value of your home, divided by however many people live in it, utilities, car payments if you drive your child to appointments and school, gasoline, food, etc. You cannot claim the Adoption Tax Credit though until the adoption is final. |
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#15
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I'll pass this info along to our cw, who has no clue what to do, and all I could think was "what, we're your first parents???" :-))
I took 'A' off the adderall over the holidays and it went well - he's gained about 3 lbs and we see the doc today. 'A' did not take his meds this morning - we'll see how he does at school. Personally I think he would do well on a drastically lower dosage and maybe then he'll have an appetite. It's tough for me (no experience) to tell when medication is necessary and when behavior is just very active. 'A' has enough focus to put together a k'nex rollercoaster in an afternoon - I've always thought that would be impossible for a child with adhd. We'll see what the doc says........... |
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