How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds
Ask a Tax question
Type Your Tax Question Here...
characters left:
6 Tax Professionals are Online Now

Adoption Credit Questions

What is the adoption credit?

For the years of 2010 and 2011 there is a tax credit that is paid to parents who adopt an eligible child or child with special needs. This tax credit is called the adoption credit. The credit allows for parents to claim the money that they spent on the adoption in the year that they have adopted a child. The child would be eligible if they are under 18 years of age and are incapable of caring for them. The credit cannot be used to claim a child that is not a US citizen until the adoption becomes final. The parents would have to file a married filing jointly tax return to get this credit. Read below where Experts have answered many questions about the adoption credits.

Are parents eligible to take an adoption credit in 2010 if they had no expenses adopting a special needs child and their income including income for working as a contractor in Iraq was 285,000?

When the parents adopt the child then they would be qualified to get the adoption credit if they had expenses that they incurred during the adoption. If they did not have any expenses then they would not be able to get the adoption credit.

If a set of parents wanted to adopt a foreign child, would they get the adoption credit only when the adoption is final or can they regain their money if the adoption never becomes final?

The only way for the parents to be able to claim the adoption credit on a foreign child is when the adoption is final. If the adoption of the foreign child never becomes final, then the parents would not be able to regain any expenses that they spent. If the adoption becomes final, then the parents would be able to get the credit in the year the adoption wad final.

If a couple adopts a child in 2010, but had a failed adoption in 2009, would the couple be able to amend their 2009 tax return to regain some of the costs on the failed adoption?

There may be a chance that the failed adoption costs may be qualified for the adoption credit if a successful adoption were to follow the failed adoption. The only thing that the credit would do is to lump the costs of both adoptions into one sum. The credit would cover the limits per eligible child and be considered as one transaction. Even if the expenses were paid on two separate children and in two separate years, the two adoptions would still be considered the same transaction for the purpose of the adoption credit. The parents would claim two adoptions on their 2010 tax return when they file the return they need to include all the information of the failed adoption as well as the successful adoption.

If a parent adopts a child in the year 2011, but the adoption would not be final until the year 2012, when would the parent file the adoption credit?

The parent’s expenses that they paid in the year before the adoption was filed would generally not be able to be claimed till the year that they paid the money, but if the child is not a US citizen, then the adoption credit would not be able to be claimed until the adoption is final. When the adoption is not final, then the parent can claim the expenses the year after they are paid even if the adoption is not final as long as the child is a US citizen.

When a couple decides to adopt a child, then they have an adoption credit on their taxes that they may be able to use in order to gain some of the money that they spent to adopt the child. When a parent adopts a child and they are filling out their taxes or they are in the process of adopting a child and filling out their taxes they may run into questions regarding the rules and laws about the adoption credit. When these questions arise, then the person would need to seek the answers of the Expert to gain the answers that the need.
Ask a Tax question
Type Your Tax Question Here...
characters left:
6 Tax Professionals are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Last | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX
 
 
 

Meet The Experts:

 
 
 
  • Ron

    ASE Certified Technician

    Satisfied Customers:

    21182
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
< Last | Next >
  • http://ww2.justanswer.com/uploads/FO/fordguy4u/2011-12-17_222940_HPIM1257.64x64.JPG Ron's Avatar

    Ron

    ASE Certified Technician

    Satisfied Customers:

    21182
    23 years with Ford specializing in drivability and electrical and AC. Ford certs and ASE Certs
  • http://ww2.justanswer.com/uploads/lyeung1/2010-07-25_032152_tn_IMG_0241.JPG Dr. Y.'s Avatar

    Dr. Y.

    Urologist

    Satisfied Customers:

    18389
    I am fellowship trained specializing in general urology and reconstructive urology.
  • http://ww2.justanswer.com/uploads/docjohn174/2008-12-13_170143_johnask.jpg John's Avatar

    John

    Home Appliance Technician

    Satisfied Customers:

    13453
    Appliance repair business owner for over 43 years.
  • http://ww2.justanswer.com/uploads/MU/multistatelaw/2011-11-27_173951_Tinaglamourshotworkglow102011.64x64.jpg Tina's Avatar

    Tina

    Lawyer

    Satisfied Customers:

    8490
    JD, BBA Over 25 years legal and business experience.
  • http://ww2.justanswer.com/uploads/dermdoc19/2010-09-30_160749_Photo_122807_015.JPG dermdoc19's Avatar

    dermdoc19

    Dermatologist

    Satisfied Customers:

    3848
    30 years practice in general and cosmetic dermatology
  • http://ww2.justanswer.com/uploads/BI/birddoctor/2012-6-22_173214_birddoctor.64x64.png Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    3384
    25+ years working primarily or exclusively with birds
  • http://ww2.justanswer.com/uploads/RY/rydergar/2012-6-6_192240_IMG0328.64x64.JPG Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    3299
    DVM, Emergency Veterinarian, BS (Physiology)
 
 
 

Recent Adoption Credit Questions

  • I have a client who claimed the adoption credit in 2012. The

    I have a client who claimed the adoption credit in 2012. The couple was only able to use $5029 in adoption credit. They had 2 adopted children who were foreign.

    MY question is, out of the $25,300 available to them in 2012, they used $5029. Where am I utilizing the remaining $20,271 that should be carried forward, on the 2013 tax return?
  • We had mostly completed an international adoption last year.

    We had 'mostly' completed an international adoption last year. The adoption decree has been completed and he was admitted into the US on humnaitrian parole with the stipulation that he return when medically able or within a year to complete the visa process. Since the decree is complete and he has been viewed by the school district and insurance as legally our son are we able to take the adoption credit prior to obtaining the visa? Or must we wait to have the visa complete before taking the credit?
  • I missed an adoption credit on my taxes in 2007, is there anyway

    I missed an adoption credit on my taxes in 2007, is there anyway to amend this sucessfully with it being over 3 years
< Last | Next >