Adopting domestically can lower hurdles to claiming tax credit
Years ago, Congress sought to ease this financial burden by enacting a generous tax credit for parents who adopt. This year, eligible parents can claim a tax credit of up to $11,650, per child, to cover adoption expenses. A credit is more valuable than a deduction because it comes off the top of your tax bill.
But tougher restrictions on international adoptions could force prospective parents to wait longer to claim the adoption tax credit — and some might not be able to claim it at all.
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