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Currently pregnany and Due Dec 28- W4 vs filing taxes

Hi,

I am currently pregnant and due date is Dec 28, 2024. Since the baby is not born until the last few days of this year, do I need to change anything on my/our W4 now?  Since the due/birth date is this year, won't the baby need to be filed as a dependent when we file our 2024 taxes? I'm not sure if this is considered similar to marriage (if married last few days of the year, then considered "married" the whole year). We've been married one year. 

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5 Replies

Currently pregnany and Due Dec 28- W4 vs filing taxes

Yes if your baby is born in 2024 they are a dependent on your tax return.  A child born (even on Dec 31) is considered to live with you the whole year.  So be sure to select YES he lived with you the whole year.

Currently pregnany and Due Dec 28- W4 vs filing taxes

Of note I guess:

This year we filed "married filing separately." He has child support from another marriage (one child). We currently have no children together (yet). I usually end up paying some taxes to IRS. 

ShannonDuff
Employee Tax Expert

Currently pregnany and Due Dec 28- W4 vs filing taxes

Congratulations! Since your due date is so close to the end of the year, you should not add the dependent to your W-4 calculations just to be safe. That way your not accounting for any extra credit and shorting your self  on withholdings. If the baby is born before Jan 1, 2025 then you will claim the child as a dependent for the entire year and depending on your income, may qualify for Child Tax Credit and/or Earned Income Tax Credit which in turn will lower your tax liability possibly resulting in a higher refund.
You can use the TurboTax W-4 calculator to help you complete your W-4.
https://turbotax.intuit.com/tax-tools/calculators/w4/

Currently pregnany and Due Dec 28- W4 vs filing taxes

Why did you file Married filing Separate?  Child support does not affect your tax return.  Filing Joint should be better.  Does he owe back Child Support and they keep his refund?  If you file Joint you can file a Injured spouse form to protect your part of the refund.  You can amend to change it to Joint.  

 

Many people think they come out better when filing Married Filing Separate but they are probably doing it wrong.  If one person itemizes deductions on Schedule A then the other one must itemize too, even if it's less than the standard deduction, even if it is ZERO!  And if you are in a Community Property state it can be complicated to figure out.

 

And there are several credits you can't take when filing separately, like the

EITC Earned Income Tax Credit

Child Care Credit

Educational Deductions and Credits

 

And contributions to IRA and ROTH IRA are limited when you file MFS.

Currently pregnany and Due Dec 28- W4 vs filing taxes

We've been living together for years but didn't marry until last year.  So we've each filed our own. Since it's my first marriage, I'm barely learning about the credits you mention and tax bracket changes when filing together vs. separately.

 

He did mention he doesn't get a refund because it goes towards the child support, so I am guessing- yes. 

 

We do live in Texas (community state) and file standard deduction (not itemized). 

 

I usually owe between $300-600 to IRS each year. I barely learned a few months ago I was supposed to change my W4 after marriage. 

 

So yeah...I still have quite a lot to learn about marriage and dependents... =/

 

 

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