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Thread: Can We Write off Income Loss for our Child Taking up a Spot? Reply to Thread

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11-20-2019 11:27 AM

Unregistered

No, because they go by age or developmental age. He will most likely stay infant-toddler developmentally. Plus he takes up physical space in my home that otherwise, I could have for a daycare crib. So looks like I am forced to take the hit, which I figured I would.

11-20-2019 08:32 AM

daisymay

Is there an age where he/she will no longer count in your ratios? You can verify that with licensing.

11-20-2019 07:58 AM

Unregistered

Thanks guys. I can call nursing staff in which is covered by insurance if I went to work, so that wouldn't cost anything. I just would prefer not too. So it does actually cost me money. Thanks for the clarification though, figured it was a reach but worth asking.

11-20-2019 07:46 AM

Blackcat31

Quote:

Originally Posted by Unregistered

I just adopted a special needs child who will indefinitely be home and not go to school.

Congratulations on the adoption.

Quote:

Originally Posted by Unregistered

Is there a legal way to write off that spot on your taxes? It is a $900 loss each month forever.

Thanks, D

Since you are able to be home with him vs putting him in child care so you can work, I'd look at it like a savings of $900 per month forever.

11-20-2019 07:31 AM

TomCopeland

Quote:

Originally Posted by Unregistered

I just adopted a special needs child who will indefinitely be home and not go to school. He takes up physical space obviously.

Is there a legal way to write off that spot on your taxes? It is a $900 loss each month forever.

Thanks, D

I appreciate it that you are taking on this responsibility. Unfortunately, you cannot deduct any business expenses associated with an adopted child (or biological child).

11-20-2019 06:21 AM

Unregistered

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