What is the adoption tax credit?

The Adoption Tax Credit is a dollar for dollar tax credit for people who adopt a child in the state of Washington. The credit is only available for adoptions finalized in the year of the adoption, and can be claimed on both state and federal income taxes. This credit is available to both individuals and married couples. In the case of a married couple, the credit will be split between them, with the primary filer receiving the larger portion. In order to be eligible for the credit, the adoption must be finalized in the state of Washington. The maximum credit available is a total of $13,570. This can be reduced if the individual or couple has adopted multiple children. The Adoption Tax Credit is designed to help offset the cost of adopting a child and to encourage more adoptions. It is important to note that this is a non-refundable credit, which means that the credit can be used to reduce tax liability to zero, but any credit amount beyond that will not be refunded. The Adoption Tax Credit is an important resources for families looking to bring a child into their home through adoption. It is an important way to support adoptive families financially and show that the state of Washington values the important act of adoption.

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What is the adoption tax credit?

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