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12-Nov-2017 15:58

The maximum adoption credit allowable in 2016 is ,460 (,460 dollar limit for 2016 less ,000 previously claimed.) The dollar limitation applies separately to both the credit and the exclusion, and you may be able to claim both the credit and the exclusion for qualified expenses.

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For example, prospective adoptive parents who pay for a home study at the outset of an adoption effort may treat the fees as qualified adoption expenses.

An eligible child is an individual who is under the age of 18, or is physically or mentally incapable of self-care.

The credit and exclusion are each subject to an income limitation and a dollar limitation.

The income limit on the adoption credit or exclusion is based on your modified adjusted gross income (MAGI).Offers are updated frequently, so please check back often if you don't immediately see something you like.