What is the international adoption tax credit?

What is the international adoption tax credit?

The international adoption tax credit is a tax benefit for families who adopt children from other countries, helping to offset adoption costs.

How much is the tax credit for international adoptions?

As of 2023, the maximum tax credit for international adoptions is $14,440 per child, but this amount can change annually.

Are there any eligibility requirements for this tax credit?

Yes, to qualify, you must have adopted a child from a foreign country and meet certain income limits and filing requirements.

Can I claim this credit if I adopted a child from a private agency?

Yes, you can claim the credit if you adopted internationally through a private agency, as long as you meet the eligibility criteria.

What documents do I need to provide to claim the credit?

You'll need to provide adoption finalization documents, proof of expenses, and your tax return to claim the credit.