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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 11-20-2019, 07:21 AM
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Default Can We Write off Income Loss for our Child Taking up a Spot?

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
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Old 11-20-2019, 08:31 AM
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TomCopeland TomCopeland is online now
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Default Caring for own child - deductible?

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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).
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Old 11-20-2019, 08:46 AM
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Quote:
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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 View Post

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.
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Old 11-20-2019, 08:58 AM
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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.
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Old 11-20-2019, 09:32 AM
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Is there an age where he/she will no longer count in your ratios? You can verify that with licensing.
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Old 11-20-2019, 12:27 PM
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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.
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