What is the maximum amount for the adoption tax credit?
The maximum adoption tax credit for 2023 is $15,950 per child. This amount may vary based on your income.
Are there any income limits for claiming this credit?
Yes, the adoption tax credit begins to phase out for modified adjusted gross incomes over $239,230.
Can I claim this credit for adopting a child from another country?
Yes, you can claim the adoption tax credit for both domestic and international adoptions.
How do I apply for the adoption tax credit?
To apply, you need to complete IRS Form 8839 and include it with your tax return.
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