Can someone please let me know what is going on with the tax credit? One thing I hear, you don't need to finalize in progress domestic adoptions in order to claim expenses paid. Then I hear it doesn't matter if it's in progress. If you haven't finalized in 2012 you don't get the tax credit.
I HOPE TO GOD we can claim our adoption. If not, we cannot afford to do another adoption :(
I am sinking down into a little bit of a depression. (Please do not say I should be happy with the family I have. Please read this book if you don't understand how I feel)
From what I understand, if the adoption isn't final but you've paid expenses in 2012, you take the credit in 2013. But review the FAQs yourself- I hope I'm wrong: http://www.irs.gov/Individuals/Adoption-Benefits-FAQs For 2013 the credit isn't refundable, so you'd just be getting to take a portion of the $10k (or perhaps a little more) and apply it against your tax liability. We're planning to adopt this year and were disappointed to see that the credit got switched over from refundable to nonrefundable. :( Hope everything works out for you guys.
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