We adopted a child through foster care in 2017. We receive a monthly adoption assistance payment. Is this considered taxable income?

jcwcu19 · ‎June 5, 2019

Opus 17 · ‎June 5, 2019

No. Only if you have more than 5 (I think) foster children over a certain age, then the IRS starts to think you are running a service.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

Opus 17 · ‎June 5, 2019

No. Only if you have more than 5 (I think) foster children over a certain age, then the IRS starts to think you are running a service.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*