@varshil_shh wrote:
1) Will i be able to claim my child as dependent for child tax credit ? As per the definition of "first year choice" in pub 519, I believe I can claim dependent once my child pass the SPT in 2021 which will be on 26th May,2021. So I'll have to apply for a filing extension and file for my taxes post 26th May,2021. Can you please confirm ?
2) My child still do not have an ITIN (I am planning to apply one along with my returns with w7). Will i be able to claim for the stimulus fund credit(recovery rebate credit) for my child ?
1) Yes, I believe so. I don't see anything that restricts a child or dependent from making the First Year Choice. However because your child will have a ITIN rather than a Social Security Number, the Child Tax Credit is limited to $500.
2) No. A person must have a Social Security Number to qualify for the Stimulus/Recovery Rebate credit.
TurboTax is not set up for dealing with a dependent that does not yet have an Identification Number. Between that and needing to file the W-7, you may consider a tax professional. A "Certified Acceptance Agent" may be able to file the W-7 without you needing to mail in your child's important documents.
