I spend a fortune for my pet. Don't they qualify as a dependent?
While your pet is truly dependent on you, the IRS isn't as thoughtful. You cannot deduct Fido, Fluffy or Tweety as a dependent on your tax return. Additionally, in order to deduct a human dependent, you will need to record their social security number on the return.
When the IRS started requiring social security numbers on returns, the number of dependents claimed dropped by over 9 million from the prior year! Over 10,000 returns showed greater than 10 fewer dependents from the prior year.
As always, please call (949) 683-8111 or email us at info@southcountycpa.com if you have any questions. We are here to help.
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