Anyone have adoption costs covered?

Just a heads up, foster/adopt programs aren't necessarily free. Maybe I should clarify. They aren't free in my area but maybe they are in other parts of the country. If you adopt on National Adoption Day, many attorney's (not all) will waive their fees. However, there are still court fees which are minimal compared to private adoptions.

I understand the desire to love another child.. and private adoption is seriously expensive. But fostering to adopt is not an easy road. I would highly suggest digging in to this forum and reading as much as you can. It's late, and I am on deadline, so I may come off as harsh and I don't mean to. I just want to make sure you are educating yourself on this... loving a little one (or not so little one) and having to say goodbye is no less painful than losing a pregnancy or newborn. As far as coverage for adoption via an employer, you would have to find their financial cap and work within those boundaries. Best of luck to you!

I am well aware of the ups and downs of adoption. We have researched it for a long time. We have read many stories both good and bad. We are willing to wait a few years as our youngest is 2 anyhow. We just know we are being specific with wanting a girl within a certain age range and obviously a race that is similar to ours. I know this is easier to get with private adoption but like I said before...very expensive. Foster/Adopt programs here are free and the attorney part is not an issue. I just don't know how realistic it would be to get what we want through foster care but I am certainly willing to try. I just sort of ruled out the private adoption because of money and then got rejuvinated hope when my husband came home with the news about possible coverage. Just wondering if anyone had the same experience or similar. Thanks for posting!!

I paid the attorney for my son's adoption but was reimbursed by the State afterwards. My last 2 employers' also had an adoption policy which gives $2000 for adoption expenses. My current two kids' expenses are being covered because they are eligible for subsidy so the attorney gets reimbursed for his fees. I pay nothing. I have been using the Adoption Tax Credit for the past 2 years and I have really benefitted from it--along with my other tax deductions I've been able to send my son to private school. It does help!

My husband's company will pay up to $5000 of our adoption fees. Unfortunately, we do not qualify for the tax credit.

I found out my husband's will pay $5000 as well...and with the tax credit that seemes reasonable. Question, with the taxt credit..how does it work? Do you get money back at the end in your tax return? I found an agency that costs roughly $17,000 to adopt a newborn basically. Not sure if that is cheap or not. So I thought with the tax credit and my husbands $5000 we could do it....not sure yet.

mbarilla, The federal adoption tax credit works by reducing the amount of taxes you owe. Pull out your copy of the tax forms you filed last year. There should be a line for "tax liability" - the amount of your money that the IRS will get and keep. That's the amount that the adoption tax credit would offset for you. There are limits - there's an upper income limit, if you exceed that then you don't qualify to use the adoption tax credit. And if you don't happen to have any tax liability (because you make too little, or because you already have lots of deductions), then the adoption tax credit won't do you any good. But most folks qualify to use it, and benefit from it. The maximum amount of the adoption tax credit for 2009 is $12,150. If you spend more than that, you have no recourse to get the rest of it back from federal taxes. But if you spend less, then you can only claim the amount you spend. How you use it is fairly simple. You add up all the qualified adoption expenses you pay, and in the year you finalize the adoption, you add them up, put them on a special IRS form, and deduct that amount from your tax liability. Like if you spent $17,000 on an adoption, your hubby's work paid $5,000 back to you, leaving $12,000. That's less than the maximum amount of the credit, so you're good on that. You'd take the amount of your tax liability (we'll assume your tax liability is $4,000 for this example) and subtract the $12,000 - meaning your tax liability would be reduced to zero. And you'd have $8,000 of the credit left over. (If you paid your taxes already through paycheck deductions, the IRS would send you that $4,000 back. If you were waiting to mail the IRS a check on April 15, then you wouldn't have to mail the check.) Normally, the IRS would allow you to use any unused amount the following year. But right now the adoption tax credit is set to expire in Dec 2010. If it's not renewed for people to claim, then we'll lose the ability to carry over the credit, too. So don't count on the carryover part. There are special considerations if you adopt a child domestically but the adoption falls through, and special considerations if you adopt a special needs child from foster care. But for this example we'll assume you adopt domestically and have no problems with it. Make sense? If not, post back.

Thanks so much Diane...yes this helps a lot! Thanks so much! Oh yeah....so how much did a domestic adoption cost in US for anyone on here? Reccomendations for an agency??

Remember - you're still posting in the Foster Care section of Adoption.com. You'll get more views - and replies - to this type of general adoption question if you post it in the General Adoption section.

I did thanks!

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