Tag Archives: 2019 Adoption Tax Credit

Updated Adoption Tax Credit information: Adoption Tax Credit adjusted numbers for 2020.  The maximum amount allowed is set at $14,300 per child for 2020 (it was $14,080 in 2019). The tax credit starts to phase out for families with modified adjusted gross income in excess of $214,520, and is completely phased out for families with modified adjusted gross income of $254,520 or more. Reference https://www.irs.gov/pub/irs-drop/rp-19-44.pdf With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. Many of our adoptive families will be applying for the Adoption Tax Credit. With that in mind, we have compiled some basic information about the 2019 adoption tax credit Adoption Tax Credit 101 If you have done any research into adoption…