What is the official ID of this bill?
The official print number for this legislation is HR 7425.
Newborn Expense Tax Deduction: Up to $5,000 for Families
This bill introduces a new tax deduction allowing parents to claim up to $5,000 for qualified newborn expenses in the year of the child's birth. Eligible expenses include infant formula, diapers, car seats, strollers, and cribs. The deduction is available to families with a modified adjusted gross income below $100,000 ($200,000 for joint filers) and requires a Social Security number for both the taxpayer and the child.
Key points
A new tax deduction allows up to $5,000 for newborn expenses like formula, diapers, car seats, strollers, and cribs.
Eligibility is limited to taxpayers with a modified adjusted gross income under $100,000 ($200,000 for joint returns).
A Social Security number for both the taxpayer and the qualifying child is required to claim the deduction.
The provisions apply to tax years beginning after December 31, 2024, and terminate after December 31, 2029.
Status:
Expired
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