Comments for The Adoption Advisor

Comment on Adoption Tax Credit Survives – 2012 and Beyond by Adoption Attorneys Group Featured in WaPo Article | The Adoption Advisor

Adoption Attorneys Group Featured in WaPo Article | The Adoption Advisor — Sun, 31 Mar 2013 17:38:43 +0000

[...] was active in pushing to make the adoption tax credit a permanent part of the tax code in the fiscal cliff deal reached in December of last year. One of [...]

Comment on Adoption Tax Credit Survives – 2012 and Beyond by The Finances of Adopting – WSJ Article | The Adoption Advisor

The Finances of Adopting – WSJ Article | The Adoption Advisor — Sun, 31 Mar 2013 17:11:36 +0000

[...] the recent fiscal cliff legislation and I’ve covered it in a number of prior posts on my site here and [...]

Comment on Adoption Tax Credit – 2012 by Mark McDermott

Mark McDermott — Mon, 23 Jan 2012 17:13:32 +0000

Hi Cheryl,

I have good news for you – any part of the credit that cannot be used in the first year can be carried forward for 5 years. Since you are adopting 2 children, you will be entitled to 2 full credits.

-Mark

Comment on Adoption Tax Credit – 2012 by Cheryl

Cheryl — Mon, 23 Jan 2012 16:40:00 +0000

Hello Mr. McDermott,

I too am likely to adopt 2 special needs children in 2012. I understand the “non-refundable” credit, however, how many years is the credit good for? My husband and I hardly ever owe taxes, and I want to determine if this credit will benefit our family.

Thank you in advance for your assisatance,
Cheryl

Comment on Adoption Tax Credit – 2010 & 2011 Refundability by Extension of Adoption Tax Credit – 2012 « The Adoption Advisor

Extension of Adoption Tax Credit – 2012 « The Adoption Advisor — Tue, 27 Dec 2011 15:15:55 +0000

[...] be refundable in 2011, but not for 2012. The refundability was created earlier this year by the Patient Protection and Affordable Care Act and is in effect until Dec. 31, [...]

Comment on Adoption Tax Credit – 2012 by Mark McDermott

Mark McDermott — Mon, 26 Dec 2011 18:29:05 +0000

Hi Jennifer,

If you finalize in 2012, you will be eligible to claim up to the full credit without showing any actual expenses when you file your 2012 return in 2013. The actual amount of the credit to which you will be entitled will depend upon your modified adjusted gross income (MAGI), as outlined in the above post.

I hope this is helpful.

Best,

Mark

Comment on Adoption Tax Credit – 2012 by Jennifer

Jennifer — Thu, 22 Dec 2011 02:03:29 +0000

Dear Mark,
If we finalize the adoption of a special needs child through the foster care system in 2012, will we be eligible to claim the full credit in 2013, or will the amount of the credit depend on our expenses? TIA for any guidance you can offer.
Jennifer

Comment on Adoption Tax Credit – 2010 & 2011 Refundability by Extension of Adoption Tax Credit – 2012 « The Adoption Advisor

Extension of Adoption Tax Credit – 2012 « The Adoption Advisor — Tue, 04 Jan 2011 21:40:49 +0000

[...] Comments « Adoption Tax Credit – 2010 & 2011 Refundability [...]

Comment on Health Insurance for Adopted Children by Melissa in VT

Melissa in VT — Mon, 15 Mar 2010 22:37:38 +0000

This is very helpful; thanks!