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Adoption Tax Credit for Foster Parents Adopting in 2010

Kelly - posted on 07/24/2010 ( 4 moms have responded )

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My husband and I are adopting our 2 foster children this year and I was just wondering how exactly the Tax Credit works for us? My adoption worker said that we are able to claim it, but the more I read on IRS.gov, the more confused I become...lol... If we are adopting through the state, we are not paying anything out of pocket for our adoptions... If anyone else has adopted through the state and already been through this...let me know how it turned out :) Thanks for any help!!!
(btw...if it makes a difference, I live in Oklahoma)

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4 Comments

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Cara - posted on 02/16/2011

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Wow. I didn't realized this was posted in July! Guessing you had it figured out by now. lol

Cara - posted on 02/16/2011

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If your children are siblings they may be considered 'special needs'. Doesn't always make sense, but b/c sibling groups are considered harder to place thus they fall into the special needs catagory. If you get a subsidy, they will qualify. We adopted through the State and are in the same boat. Didn't know that we qualified until a friend (also adoptive parent) pointed this out to us. You will have to file via mail, though. Due to some glitch the e-filing does not work.

Jennifer - posted on 02/07/2011

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We've done so and are in process of doing so again. Plus my husband is a CPA. The credit is really more like an reimbursement. For instance with our first son we got the amout we'd spent on his adoption, lawyer and court fees. For our second son he quilifies for subsidy and so everything is paid for and we spend nothing, there for we do not get anything this time around. That is the layman terms my husband explained it to me in at least! :-)

Cindy - posted on 09/03/2010

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We adopted our child through the state of GA. We didn't have to pay anything for our adoption either. I think you will get a $10,000 credit toward your federal income tax deduction over three years. The state also should give you up to $2,000. toward an adoption.

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