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posted May 31, 2019 9:14:45 PM

Can I claim my adoption tax credit?

We received placement of our daughter Jan 2017. We paid $15k in expenses in 2016 and another $20k in Jan 2017 at time of placemement. Since we paid more in expenses in 2016 than the eligible tax credit of ~$13k can we just take the total tax benefit on our 2016 taxes and be complete instead of waiting all of 2017 and claiming when we file next year?

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Expert Alumni
May 31, 2019 9:14:46 PM

No, you cannot take a credit on your 2016 tax return, that is not allowed per IRS rules, unfortunately.

For U.S. adoption - you can claim the credit before finalization (or for a failed adoption) but you must wait one year after you incurred the expenses (so in your case, you had expenses in 2016 for adoption that has not finalized in 2017- you must wait to claim them on 2017 tax return).

For foreign adoption -  qualified adoption expenses paid before and during the year are allowable as a credit for the year when it becomes final - so again on your 2017 tax return.

Please select Adoption Credit and Adoption Assistance Programs link for details.