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Building Families Through Adoption for Over 30 Years

Rates Announced for 2017 Adoption Tax Credit

| Jan 2, 2017 | Uncategorized |

The IRS has announced the rates for the 2017 Adoption Tax Credit.

For taxable years beginning in 2017, under Section 23 (a) (3) the credit allowed for an adoption of a chld with special needs is $13,570.00.  For taxable years beginning in 2017, under Section 23 (b) (1) the maximum credit allowed for other adoptions is the amount of qualified adoption expenses up to $13,570.00.  The available adoption credit begins to phase out under Section 23 (b) (2) (A) for taxpayers with modified adjusted gross income in excess of $203,540.00 and is completely phased out for taxpayers with $243,540.00 or more.