How do I add a dependent on my taxes?

At my work today I edited my W-4 to include my newly born son as a dependent, but I'm not sure how to edit my actual tax documents to include him as a dependent for everything else. I'm not even sure which form it is because I believe W-4 is specifically for work, so it is W-2? Any help on what to do and/or where to go is greatly appreciated.

7 Answers

Relevance
  • L
    Lv 4
    1 month ago

    The only document that counts - is the W-4.

  • 1 month ago

    When you do your tax return for 2020, the information will be requested and then you enter it. You need to get your baby a social security number right away if you haven't yet. You can go to your HR department and ask to re-do your W-4 form to include the dependent. 

  • Anonymous
    1 month ago

    Congratulations!

    What you don't mention is your relationship to the the mother.  Are you married?  If married, will you file jointly or separately?  If you are not married or plan to file MFS, please remember that only one of you can claim the child on your tax return.

    For a relative of mine, that means the best we can do with their MFS tax forms is have one get a refund of $1000 and the other owe $1000.

  • Shay
    Lv 7
    1 month ago

    When you changed the W-4, that is everything you need to do right now.

    The W-4 will directly affect the end results on your W-2 form when your employer issues it in January of 2021.  You don't actually change the W-2 form.  Your employer adjusts it based on what you are reporting on your W-4 form. 

    You can't "edit" past tax documents to add a dependent that was born this year.  

    When you file your new tax return, you add the information for your new baby at that time.

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • 2 months ago

    You just put them on your tax return when you go to file.  W2 you get from work, that is not something you fill out.

  • 2 months ago

    Form W-2 is also specifically for work, and you don't edit the W-2 yourself; your employer or their payroll service company does.

    You do nothing right now and nothing for the rest of the year.

    After the year ends, when you go to file your taxes for year, you include the dependent then.

    You don't "edit" anything, because a separate list of dependents is done for each year.  The last one is still good, and should never have this dependent, because it is for a year before this dependent is born.

    The first one on which you can have this dependent will be the one that should done between January 1, 2021, and April 15, 2021.  You claim the dependent then, but it's on a new form, specifically for tax year 2020.

  • 2 months ago

    Your  newborn child will generate a $2,000 credit on your 2020 tax return.  That work out to a reduction in withholding of about $75 every two weeks.

Still have questions? Get answers by asking now.