I have a question. The standard numerated allowable expenses for tax credit did not include the expenses for supporting the child (overseas) while the adoption drag on. Nor did the exclusion expenses included financial support. The child was an orphan. I adopted 4 orphans and send them $500 each ($2000 total/per month) month for their food, clothing, education, medical, etc. According to an AI, although this was not specifically listed, it can still qualify as an expense. The adoption was final and they are now here in the US. What do you think?
According to Section 23(d)(1) of the Internal Revenue Code, expenses can be "Other expenses that are directly related to and for the principal purpose of the legal adoption of an eligible child." I could find no evidence in any conventional source that the expenses you are describing are eligible for the Credit. If you claimed the expenses, and then upon audit they are denied, you might have a case in Tax Court, if you're inclined to take it that far.
I have a question. The standard numerated allowable expenses for tax credit did not include the expenses for supporting the child (overseas) while the adoption drag on. Nor did the exclusion expenses included financial support. The child was an orphan. I adopted 4 orphans and send them $500 each ($2000 total/per month) month for their food, clothing, education, medical, etc. According to an AI, although this was not specifically listed, it can still qualify as an expense. The adoption was final and they are now here in the US. What do you think?
According to Section 23(d)(1) of the Internal Revenue Code, expenses can be "Other expenses that are directly related to and for the principal purpose of the legal adoption of an eligible child." I could find no evidence in any conventional source that the expenses you are describing are eligible for the Credit. If you claimed the expenses, and then upon audit they are denied, you might have a case in Tax Court, if you're inclined to take it that far.
@@TheTaxGeek
Thank you so much for your help. Do you know of any credible CPA that might be of an expert in this area that you could recommend?
Thanks for the info. So TP can’t claim 8k spent in attorney fee for his grandson custody?
Unfortunately, no. Attorney fees to gain custody nor intra-family adoptions qualify for the Credit.
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