Can We Write off Income Loss for our Child Taking up a Spot?

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  • Unregistered

    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
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    Caring for own child - deductible?

    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).
    http://www.tomcopelandblog.com

    Comment

    • Blackcat31
      • Oct 2010
      • 36124

      #3
      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. happyface

      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.

      Comment

      • Unregistered

        #4
        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.

        Comment

        • daisymay
          Daycare.com Member
          • Jun 2017
          • 34

          #5
          Is there an age where he/she will no longer count in your ratios? You can verify that with licensing.

          Comment

          • Unregistered

            #6
            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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