Understanding the Adoption Tax Credit in 2016
Adopting a Newborn Baby
The adoption tax credit was established in 1997. Since then it has helped thousands of families offset the high cost of adoption. The credit applies to all types of adoption, except for stepparent adoption. Taxpayers who adopt a child may qualify for the adoption tax credit. Before you claim the adoption tax credit in 2016, it’s important to understand how it works and could you benefit from it.
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