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Tax Credit
Originally Posted By Greg Franklin
Assuming that you are talking about a domestic adoption, as opposed to an international adoption, and that your income qualifies you to take the tax credit, you may take the credit in the tax year in which the expense was incurred. Therefore, expenses incurred in 1998 should be claimed on your 1998 taxes.
You are eligible to claim up to $5,000 per adoption attempt, per tax year.
Greg Franklin
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