What are the eligibility requirements for adoption tax credits?
An example of an AI chatbot conversation about adoption tax credits eligibility.
What are the eligibility requirements for adoption tax credits?
To qualify for adoption tax credits, you must adopt a child who is under 18 and meet certain income limits.
Are there specific types of adoptions that qualify?
Yes, both domestic and international adoptions can qualify, but the child must be a U.S. citizen or resident.
How much can I claim for the adoption tax credit?
The maximum adoption tax credit for 2023 is $15,950 per child, but it may vary based on your income.
Do I need to provide any documentation?
Yes, you'll need to provide documentation such as the adoption decree and any related expenses.
When do I need to file for the credit?
You can claim the adoption tax credit when you file your federal tax return for the year the adoption is finalized.
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