Leaderboard

AMEN to that.

>>a 10-day grace period<< The problem goes back to Creation. It seems things didn't fit exactly together, so the way the earth spins does not evenly match its orbit around the sun. It's not off by much, but it adds up. In 1582 His Grace Pope Gregory XIII bumped everything forward 10 days. It works out that if your baby was born during the first ten days on the Gregorian calendar, it was within the last ten days on the old calendar from Julius Caesar. The IRS is not allowed to favor one religion over the other, so if you file by April 5th you should be fine.

>>I see no restriction that he must "own" the home.<< Read the instructions to Form 5695: "your main home that you owned." Or read the tax code Section 25C, "a dwelling unit located in the United States and owned and used by the taxpayer as the taxpayer's principal residence."

>>I thought tuition and Books, supplies also counted toward the life time learning credit<< According to Pub 970, "books, supplies, and equipment are included in qualified education expenses only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance." The American Opportunity Credit allows them even if they are not bought from the school itself, but the Lifetime Learning Credit still does not allow most books and supplies.

I'm pretty sure that baby grace period only applies if your return is prepared by a qualified & licensed hair stylist or auto mechanic.

Baby Grace Period? Nope...no such thing. It's my understanding that the baby needs to be born from January 1 through Dceicember 31 in order to be taken as a dependant.. You should have pretended that you didn't hear your client when they said that.