Comments for The Adoption Advisor http://theadoptionadvisor.com THE Place to Go for Adoption Information Mon, 23 Jan 2012 17:13:32 +0000 hourly 1 http://wordpress.com/ Comment on Adoption Tax Credit – 2012 by Mark McDermott http://theadoptionadvisor.com/2011/12/07/adoption-tax-credit-2012/#comment-106 Mon, 23 Jan 2012 17:13:32 +0000 http://theadoptionadvisor.com/?p=530#comment-106 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 http://theadoptionadvisor.com/2011/12/07/adoption-tax-credit-2012/#comment-105 Mon, 23 Jan 2012 16:40:00 +0000 http://theadoptionadvisor.com/?p=530#comment-105 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 http://theadoptionadvisor.com/2010/10/11/adoption-tax-credit-refundability/#comment-61 Tue, 27 Dec 2011 15:15:55 +0000 http://theadoptionadvisor.com/?p=453#comment-61 [...] 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 http://theadoptionadvisor.com/2011/12/07/adoption-tax-credit-2012/#comment-59 Mon, 26 Dec 2011 18:29:05 +0000 http://theadoptionadvisor.com/?p=530#comment-59 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 http://theadoptionadvisor.com/2011/12/07/adoption-tax-credit-2012/#comment-56 Thu, 22 Dec 2011 02:03:29 +0000 http://theadoptionadvisor.com/?p=530#comment-56 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 http://theadoptionadvisor.com/2010/10/11/adoption-tax-credit-refundability/#comment-40 Tue, 04 Jan 2011 21:40:49 +0000 http://theadoptionadvisor.com/?p=453#comment-40 [...] Comments « Adoption Tax Credit – 2010 & 2011 Refundability [...]

]]> Comment on Health Insurance for Adopted Children by Melissa in VT http://theadoptionadvisor.com/2010/02/19/health-insurance-for-adopted-children/#comment-2 Mon, 15 Mar 2010 22:37:38 +0000 http://adoptionadvisor.wordpress.com/?p=51#comment-2 This is very helpful; thanks!

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