How much will i receive for adopting children in 2022

[yayarod]

I adopted 3 kids under age of 6 this year 2022

[NCperson]

@yayarod - how much you receive is dependent on a) your specific expenses spent on the adoptions as well as b) your income situation, so it's not easy to provide a specific dollar amount.

the answer is dependent on: 

a) what your actual expenses were (maximum of $14,890 per child) AND

b) what your tax liability is as the tax credit cannot reduce Line 22 of Form 1040 below zero (but anything unused can roll over to a future year)

this is a good article that explains the parameters of how it works 

remember as part of your assessment of b), depending on your income, you become eligible for up to $2000 per child as a child tax credit, up to $1400 of which also reduces Line 22. 

https://beresfordlaw.com/adoption-tax-credit-2022/