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We have adopted 5 children in the past 5 years and have not…

Customer Question
We have adopted 5...

We have adopted 5 children in the past 5 years and have not been able to take advantage of the adoption credit because we have not been employed over these years.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

We have one year left to take advantage of this credit but I am not sure what our income qualifications need to be and what portion of the credit we would be able to receive. All our children are within the category of special needs.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

We have carried over the maximum amount of tax credit every year.

Submitted: 1 month ago.Category: Tax
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Answered in 3 minutes by:
1/4/2018
Tax Professional: emc011075, Tax adviser replied 1 month ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,388
Experience: IRS licensed Enrolled Agent and tax instructor
Verified

Hi. My name is ***** ***** I will be happy to help you.

Adoption credit is nonrefundable credit, which means you need to have tax liability to use it against. What was your income in 2017?

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