Update: second parent adoption tax credit
05/02/12 13:51 Categories: USA | Legal
Many of you asked about the amount and terms of the adoption tax credit surrogacy parents can receive in the 2011 and 2012 tax years if they go through a second parent adoption process. We asked attorney Melissa Brisman to provide clarifications. It appears that in the 2012 tax year the amount is slightly lower and cannot be used to get a refund if you do not owe taxes, but for the first time the credit can be carried forward for additional 5 years.
In any case, while the non-biological parent (even in states where they can marry) is still be required by the federal government to adopt a child born through surrogacy, AI or IVF, at least in most cases an income tax credit is likely to cover the costs associated. Go to article for details!