Question by  jeremy46 (325)

What is the IRS adoption credit?


Answer by  stinkymess (310)

Your income plays a part in the allowable IRS tax credits. You can get credit for adopting a child. The allowable credit is around $12 or $13 thousand dollars.


Answer by  egg (30)

An IRS adoption credit is a tax credit offered to adoptive parents to encourage adoption. Qualified expenses include adoption fees, court costs, attorney fees, traveling expenses, etc.


Answer by  Chaneygirl (1755)

It is a credit for expenses incurred when adopting an eligle child (under 18 or disabled). It includes legal fees, adoption fees, travel and court costs. It cannot be your spouse's child.


Answer by  tamarawilhite (17883)

For adoptions that were completed in 2010, there is a tax credit capped at $13,170. However, this is the maximum per adoption; if your expenses were less, you receive a tax credit to that amount.


Answer by  PamelaK (264)

The IRS adoption credit allows you to reduce your taxes owed by a certain amount of the expenses involved in adopting a child.


Answer by  hyperkid (470)

Basically an adoption credit is for when you adopt a child you may be able to take out a tax credit (including expenses) for the adopted child. Though it depends on if the adopted child qualifies and the expenses are also quantifiable. The adoption credit is an amount that you subtract from your tax liability.

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