How do I file for the adoption tax credit?
To file for the adoption tax credit, you'll need to complete IRS Form 8839. Have you adopted a child?
Yes, I adopted a child last year. What expenses can I claim?
You can claim qualified adoption expenses, including adoption fees, court costs, and attorney fees. Do you have receipts for these?
Yes, I have all the receipts. Is there a limit to how much I can claim?
Yes, the maximum adoption tax credit for 2023 is $15,950 per child. Make sure to check the latest IRS guidelines for any updates.
What if my income is too high to qualify for the credit?
If your modified adjusted gross income exceeds certain limits, the credit may be reduced or eliminated. It's best to consult a tax professional.
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