What is the adoption tax credit?

The adoption tax credit is a federal and state tax credit available to those who have adopted a child. In Texas, the adoption tax credit can be used to offset a variety of costs associated with adoption, such as adoption fees, attorney expenses, court costs and travel expenses. The amount of the credit varies based on the type of adoption, whether it is domestic or international, and the income level of the adopting parents. In order to receive the adoption tax credit, the adoption must be legally finalized. Additionally, there are income restrictions that applicants must meet in order to be eligible. Generally speaking, those whose adjusted gross income is $242,000 or less can receive the full credit. The adoption tax credit is designed to provide financial support to those attempting to build their family through adoption. It is intended to help offset the often-costly expenses associated with adoption. The credit is available to those who adopt children both domestically and internationally, and it can potentially save families thousands of dollars.

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