Hi expert friends!
My wife and I are looking to claim an adoption credit that we incurred in 2023. We are getting a non-refundable credit of $15K or so. We do not owe taxes this year, but have a previous taxes owed that we are paying via a payment plan. Our question is, if we take our full adoption credit now, would that credit amount be applied to our previous tax debt? Or is there a better option for us?
Thanks so much!
W
