What are the variations in adoption tax credits by state?

What are the variations in adoption tax credits by state?

Adoption tax credits can vary significantly from state to state. Some states offer a refundable tax credit, while others provide a non-refundable credit or even a grant. Would you like to know about specific states?

Yes, can you tell me about California and Texas?

In California, adoptive parents can receive a tax credit of up to $13,000 per child, which is refundable. In Texas, the credit is non-refundable and can be up to $10,000 per child. Both states have different eligibility requirements as well.

What about New York?

New York offers a non-refundable adoption credit of up to $2,400 per child. Additionally, they have specific provisions for children with special needs.

Are there any federal tax credits for adoption?

Yes, there is a federal adoption tax credit that allows adoptive parents to claim up to $14,440 per child for qualified adoption expenses. This credit is also refundable for certain low-income families.