The 2010 Form 1040 reflects a number of new tax breaks we want you to be aware of so you can take full advantage of them. Today’s post addresses changes to the tax laws regarding adoption credits.
The maximum adoption credit is $13,170 per eligible child for both non-special needs adoptions and special needs adoptions. The adoption credit is also refundable, i.e., you get the credit even if it exceeds your taxes.
If you have any questions regarding tax planning, please contact out office.
© 2011 Thomson Reuters/RIA. All rights reserved.