Tag Archives | adoption tax credits

Adopting a child? Bring home a tax break too

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents can claim a credit against their federal tax for up to $14,890 of “qualified adoption expenses” for each eligible child. This will increase to $15,950 in 2023. That’s a dollar-for-dollar reduction of tax. Also, parents may be able […]

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