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#1
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Failed International adoption tax credit
Does anyone know how to get a tax credit for a failed international adoption? From the information I have reviewed the IRS is only willing to give the credit for failed domestic adoptions. If anyone has been sucessful, I would love to know how you did it. Thanks! Melissa
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#2
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You're correct--you can't get a tax credit for an international adoption that doesn't occur. It's simply not part of the adoption tax credit law.
I do feel for you--we just spent nearly $15,000 last year and this year on international adoption and it fell through. We're now working on domestic. AnnMarie |
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#3
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We also had a failed international adoption but after you get a child through your next attempt you can recoup some of your losses with the tax credit. The problem is if you spend over $10,160 on the adoption that brought the child home there is nothing you can do about the money you spent from the failed adoption.
For instance: say you spent $15,000 on the failed adoption but then spent an additional $8,000 on an adoption where you brought your child home. You can claim the $8,000 you spent plus an additional $2,160 that you spent from the failed adoption. But, if you spend over $10,160 on the adoption that brought your child home you can't claim anything from the failed adoption. Hope this helps and does not confuse Nanita |
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