New Years Adoption

Archive · #1 05-30-2002, 05:46 AM

Originally Posted By michaelandtrisha

Our birthmom is due Jan 1st of next year. With the possibility of the child being born in either 2002 or 2003 how does that affect our tax credit situation? We have already incurred well above 10k worth of expenses in the 2002 calendar year. Our email is mandtwil@bellsouth.net

Thanks in advance.

Archive · #2 06-04-2002, 09:16 AM

Originally Posted By chieffan9

It appears as though the way it will work is that you can't take the credit until the adoption is final. If that is this year, then you can take the credit for this year. If it is not final until next year, you can't take the credit until next year for any expenses that you incurred this year.

Archive · #3 06-05-2002, 04:20 AM

Originally Posted By michaelandtrisha

Thanks for the info. We were hoping that since we are adopting a newborn that as long as the child was born this year and the expenses were incurred this year we would qualify for the credit. Thanks again.

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