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Two years after dd came home, we got to claim our adoption credit today! The accountant was very happy for us <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/smile.gif" style="border:0px solid;" title="smile"> He even told my husband on the way out, keep adopting and you will never have to pay taxes again!<br><br>
Seeing how much we will be getting back was a huge financial relief. It will make my year and half at home as a stay at home mom so much less stressful <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/thumb.gif" style="border:0px solid;" title="thumbs up"> I feel a little sad, because I had hoped to put the money away for dd, but it will help us all as a family. I still hope that we can pay her back later.
 

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Yay!<br><br>
Did you have to do anything special with your taxes in order to be able to claim it all? We always have such low taxes due that I think we're going to have to meet with an accountant and ask for strategies to (of all things) <i>increase</i> our tax bill for the years we're trying to get the adoption tax credit.
 

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Discussion Starter · #3 ·
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<div>Originally Posted by <strong>RedOakMomma</strong> <a href="/community/forum/post/10809313"><img alt="View Post" class="inlineimg" src="/community/img/forum/go_quote.gif" style="border:0px solid;"></a></div>
<div style="font-style:italic;">Did you have to do anything special with your taxes in order to be able to claim it all?</div>
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We actually started to work with an accountant last year becasue we live in a two family and rent the other half out. Thank goodness we rent to a carpenter who has done wonders for our house <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/smile.gif" style="border:0px solid;" title="smile"> But trading labor for rent made it too complicated for my husband to keep doing our taxes. They do a lot of strange things with our income, so I really think an accountant would be able help you get most of your tax credit back. We both worked full time last year, so we did have quite a bit in taxes to work with.
 

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Congrats on getting to use the credit! It's a really nice bonus isn't it?
 

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we just filed our's also. so exciting! we're using ours to pay off the last of our credit card debt. <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/redface.gif" style="border:0px solid;" title="Embarrassment"> and we'll still have 5k left!
 

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My son's adoption will finalize soon but unless I get a much higher paying job, I don't think I'll get much of the adoption credit. I claimed him on my taxes this year and between the head of household and the child deduction, I got a ton of money (for me, at least) back. My adoption is through foster care, though, so I didn't have any expenses other than the $50 filing fee.
 

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We took home $600 of it this year. I think you have 4 years to use it all, so in two or three years will won't have any taxes taken out during the year and use the rest of the adoption credit to pay any taxes we will owe.<br><br>
Hopefully we will put a lot of money in savings that year and really make the most of that credit!
 

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We have only used about $500 over two years, we'll never get to use the whole amount. We got back everything as it was. Most of our refund was education based for Ds being at college. Two more years to go and the credit will be over and the same time Ds will graduate college. We'll get hammered for taxes that year <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/irked.gif" style="border:0px solid;" title="irked">: Oh and the house will be only 6yrs from payoffso we'll have hardly anything to deduct.<br>
I told Dh Oh well we'll have to adopt anopther baby, <img alt="" class="inlineimg" src="http://www.mothering.com/discussions/images/smilies/winky.gif" style="border:0px solid;" title="Wink"> He didn't say no he sort of snorted <img alt="" class="inlineimg" src="/img/vbsmilies/smilies/eyesroll.gif" style="border:0px solid;" title="roll">
 
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