We only pay about 5k in federal taxes each year - I know that it needs to be finalised before we can apply this tax credit. We are not looking to adopt a special needs child either.
Can you carry over your adoption tax credit for international adoptions?
Sorry, previous answer is incorrect. The adoption tax credit is a true credit for your taxes, meaning if you only pay about $5000/year in taxes, you can take this credit for about 3 years until it is used up. However, for the case of international adoption, the adoption must be completely finalized before the tax credit is taken, as you have already stated.
Can you carry over your adoption tax credit for international adoptions?
There is no provision to carry over the credit.
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