Claim Your Adoption Tax Credit
Adopting a Newborn Baby
Understanding and navigating through various tax rules, regulations and guidelines can be extremely challenging. Identifying the specific credits that you may be entitled to during the year can be even more difficult. For example, If you are an adoptive parent, there is a specific tax credit that will apply to you and your particular situation. Each year, this credit and its structure can change. However, there is an adoption credit of up to $14,300 for qualified expenses that were paid out of pocket for last year.
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