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Path: utzoo!linus!philabs!ttidca!ttidcb!tompkins
From: tompkins@ttidcb.UUCP (Pete Tompkins)
Newsgroups: net.taxes
Subject: Child Born on 1 January
Message-ID: <188@ttidcb.UUCP>
Date: Mon, 29-Oct-84 21:19:27 EST
Article-I.D.: ttidcb.188
Posted: Mon Oct 29 21:19:27 1984
Date-Received: Wed, 31-Oct-84 06:00:19 EST
Organization: TTI, Santa Monica, CA.
Lines: 12



An old age exemption is available if you reach the age of 65 by year end.
Reg 1.151-1(c)2 states that you reach the age of 65 on the beginning of
the day prior to your 65th birthday---if you are born on January 1, you
get this deduction the year before because you officially became 65
at 12:01 AM on December 31.  In my quick search, I see no similar reference
to the birth of a dependent child, but if you have a child born on 1/1,
it is probably worth looking at the Reg, or just taking the deduction:
the comparison to the old age deduction is sufficient that I doubt they
can do any more than charge you the money and interest---you made an
honest mistake rather than purgered yourself on your return.