Wednesday, March 16, 2011

Adoption Tax Credit

From Adoptive Families Magazine -
Parents who finalized an adoption in 2010 may claim a maximum credit of $13,170 for adoption expenses. The credit is now refundable, allowing lower-income families to claim it. If a family’s “qualified expenses” (adoption fees, legal fees, traveling expenses, and so on) exceed their tax liability, they will receive the difference in the form of a tax refund.

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