Paying For Adoption Costs

A blog visitor asked: I have been looking into adoption recently, and was discouraged about the costs. I would love any kind of advice, or information about making it more affordable. How can a lower income family afford it? I took the question to our adoption forum members and this is what they suggested: >>>>>>> This is tough. I have to say it seems to be getting harder to do each time we pursue it. Further, adoption costs...

Adoption Tax Credit

You may be able to take a tax credit for qualifying expenses paid to adopt an eligible child (including a child with special needs). The adoption credit is an amount subtracted from your tax liability. For expenses paid prior to the year the adoption becomes final, the credit generally is allowed for the year following the year of payment. A taxpayer who paid qualifying expenses in the current year for an adoption which...