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jcwcu19
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We adopted a child through foster care in 2017. We receive a monthly adoption assistance payment. Is this considered taxable income?

 
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Opus 17
Level 15

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

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.*

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Opus 17
Level 15

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

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.*
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