Adoption Tax Credit Extended Until 2011
It is final! The adoption tax credit has been extended another year. It will sunset December 31, 2011. The maximum credit amount is now $13,170.00 for adoptions occurring after January 1, 2010. You can read the bills text on page 903 of 906 here.
Thanks to this blog as well as a fellow reader for bringing it to my attention.
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Adoption Update 
Does this mean $13,170.00 per child? I am in the process of adopting four children at once from foster care.
Try looking at this link for your answers, J Pake: http://www.irs.gov/individuals/article/0,,id=231663,00.html
Your state may also have programs for tax credits, esp. if your children meet special needs definitions. Go to your state’s website and search for “adoption”.
When will there be a vote/decision on 2012? When was the 2011 news announced?
Thanks.
My wife and I are finalizing on our decision to adopt 3 orphans for the Ukraine this month of July 2011. With the home study and Ukraine process with focus to get everything done asap. if the adoption doesn’t complete by Dec 31 can I still take advantage in 2011 tax credit? How does it look to extend this credit into 2012? My Ukraine contact tells me that they need 2+ months on their side, trying to determine how much I have to push to get the paperwork completed in time to complete adoption before year end 2011. Appreciate any insights , thanks…
Congratulations on your new additions! How exciting and wonderful.
It is my understanding that you cannot apply for the federal adoption tax refund until the adoption has finalized. Which means that if your adoptions have not been finalized in court by Dec. 31, 2011 than you cannot declare it on your 2011 taxes. I do not know how things are looking for 2012. Again, I am not a professional by any means, this is just my understanding.
Congratulations on your new additions! How exciting and wonderful.
It is my understanding that you cannot apply for the federal adoption tax refund until the adoption has finalized. Which means that if your adoptions have not been finalized in court by Dec. 31, 2011 than you cannot declare it on your 2011 taxes. I do not know how things are looking for 2012. Again, I am not a professional by any means, this is just my understanding.
Excellent article