Adoption Tax Credit

[Ashleighsv]

Hello, we have been doing our taxes independently and filed for an extension this year as I need help with the adoption tax credit. We incurred the majority of our adoption expenses in 2023. Do we apply the Adoption Tax Credit for the 2023 return or is it applied to next year's 2024 return? What form do we need to complete? Which Turbotax services would be best to use to answer a few questions to maximize our return and file? Thank you! 

[OpeA1]

Hello Ashleighsv!

You will apply for the credit in the tax year it was incurred. In your case, that is 2023. If you are unable to take the full credit on the return, TurboTax will assist you in carrying over the remainder of the credit to the next year.

1. Please go to the Deduction & Credits section in TurboTax and look for Adoption Credit.
2. Or you can type in Adoption Credit in the search (top right) and use the Jump To link to get to the right section.

TurboTax will automatically fill out the right forms for you in the background. All you have to do is answer the questions. The following is a link with more information on the Adoption Credit.

New Addition: Adoption Tax Credits 

Please visit TurboTax.com to see all the available options to complete your tax return.

Thank you!

[Ashleighsv]

Thank you! I appreciate your time!