Tax Credit for Adoption

Question

If I paid the qualified expenses in 2008, but the adoption will not be finalized until 2009, do I get to take the adoption tax credit when I file my taxes in 2009?

Answer 1

There are many regulations about it.  I believe you can also spread out the costs of the adoption over a few years if need be.  Good luck!

Answer 2

That is disgusting that you get a tax credit for adopting.

That money would be better spent on birth control, abortion, or helping mothers keep their children.

What a shame.

Answer 3

You will not get the tax credit til 2010.

Answer 4

wow.  how sad.  i wonder if you're a troll?

Answer 5

You do not get to take the credit until the adoption is finalized.  Although I am an AP...I totally disagree that we should be awarded money from the gov't for adopting.  This is our choice and therefore the entire expense should be our burden to bear.

If possible, try donating that money to a worthy charity.  I cannot imagine keeping that money for myself.  We donated ours (both times) to our local childrens charities.  You would be amazed what $11,000 can do for these children.    

Answer 6

When you file in 2010 for your 2009 taxes, you will be able to use the "credit".  No one automatically gets the "credit" as money, it's just the amount of income you don't have to pay taxes on.

Further, it also depends on if you filed domestically or internationally.  If internationally, and your state requires a readoption, then the IRS does not consider your adoption officially finalized until the readoption is complete.

You can find information about that stuff by doing a google search.

Good luck.