- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can we WAIT and claim our remaining Adoption Credit Carryforward next year or do we have to claim it in consecutive years, until it is exhausted?
Just a side note - last year was the only year we did NOT use the online TurboTax software. Instead, I bought and used a CD of it and nothing ported over. So, now I have discovered I made and error (in relation to the Adoption Credit Carryforward Worksheet) and will need to amend my 2016 return. To not make things even more complicated, I'd prefer to leave the Credit Carryforward off of my 2017 return and either amend it later or just use the carryforward credit on my 2018 return, if that is allowed.
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can we WAIT and claim our remaining Adoption Credit Carryforward next year or do we have to claim it in consecutive years, until it is exhausted?
Like virtually all credits, you must use them in consecutive years. Since you won't know the carryover amount, wait to file 2017 until you have at least prepared the 2016 amended return. You don't have to wait until the amended return is filed, you just need the carryover amount from preparing it.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Can we WAIT and claim our remaining Adoption Credit Carryforward next year or do we have to claim it in consecutive years, until it is exhausted?
Like virtually all credits, you must use them in consecutive years. Since you won't know the carryover amount, wait to file 2017 until you have at least prepared the 2016 amended return. You don't have to wait until the amended return is filed, you just need the carryover amount from preparing it.