Tax Tip 2023-06: The adoption tax credit helps families with adoption-related expenses
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Issue Number: Tax Tip 2023-06
The adoption tax credit helps families with adoption-related expenses
The adoption tax credit lets families who were in the adoption process during 2022 claim up to $14,890 in eligible adoption expenses for each eligible child. Taxpayers can apply the credit to international, domestic, private and public foster care adoptions.
Things to know about claiming the credit:
Who is considered an eligible child
Expenses may be deductible even if the taxpayer pays them before an eligible child is identified. For example, some future adoptive parents pay for a home study at the beginning of the adoption process. These parents can claim the fees as qualified adoption expenses.
Qualified adoption expenses do not include expenses that a taxpayer pays to adopt their spouse’s child. They may, however, include adoption expenses paid by a registered domestic partner if that partner lives in a state that allows a same-sex second parent or co-parent to adopt their partner’s child.
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