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Can you please explain the tax benefits of adoption?

 
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JulieH1
New Member

Can you please explain the tax benefits of adoption?

There are many tax benefits for adoption which include both a tax credit for qualified adoption expenses paid to adopt an eligible child and an exclusion from income for employer-provided adoption assistance. 

The credit is nonrefundable, which means it's limited to your tax liability for the year. However, any credit in excess of your tax liability may be carried forward for up to five years. The maximum amount (dollar limit) for 2017 is $13,570 per child.

For a very good resource see

https://www.irs.gov/taxtopics/tc607


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1 Reply
JulieH1
New Member

Can you please explain the tax benefits of adoption?

There are many tax benefits for adoption which include both a tax credit for qualified adoption expenses paid to adopt an eligible child and an exclusion from income for employer-provided adoption assistance. 

The credit is nonrefundable, which means it's limited to your tax liability for the year. However, any credit in excess of your tax liability may be carried forward for up to five years. The maximum amount (dollar limit) for 2017 is $13,570 per child.

For a very good resource see

https://www.irs.gov/taxtopics/tc607


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