Tax Time

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MatthewS
MatthewS's picture
Joined: 10/29/2008
User offline. Last seen 15 weeks 1 day ago.

I wrote a short blog post on tax-time and foster/adoptive parents in the U.S.

http://traumaadoption.org/adopt/content/taxes-and-fosteradoptive-child

Don't forget to apply your child tax credit to any kid you've been legally fostering (or have adopted) for 6 months or more in the last tax season. Also, if your child was determined to be a "special needs" child, talk to your accountant. There may be some pretty significant tax credits in the year after you have finalised your adoption.

Do you have any other tax suggestions?

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Anonymous
Anonymous's picture
About.com has a Adoption Tax

About.com has a Adoption Tax Credit article that give a pretty good overview.

http://taxes.about.com/od/deductionscredits/qt/adoptioncredit.htm