"The... maximum is the amount of qualifying expenses taken into account over all tax years. If you've been trying to adopt the same child for more than one year, your credit will be reduced by the amount of expenses taken into account in previous years for the same adoption effort."Though you should consult a tax professional, the above rule typically only applies to domestic adoptions. If the child you're adopting is a U.S. citizen, you can claim deductions before the adoption is final. With most foreign adoptions, however, you have to wait until the entire process has been completed. Read more at LauraChristianson.com.
Labels: adoption_costs, tax_deductions
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