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After spending an hour getting caught up on changes, I've got a simple question I hope the community can help answer:
We finalized a foreign adoption in 2010 with roughly $24K in expenses. I filed an 8839 and received the $13,170 credit.
With a previous foreign adoption, I was able to carry forward the balance of my expenses to future years until I had covered all my expenses.
Do I surmise correctly that in this case, I will never be able to claim the remaining $11K in expenses?
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To answer your specific question, you will never be able to claim the remaining $11,000 of your expenses, because you have already used the total amount of the credit.
The adoption tax credit has always allowed the taxpayer to claim either the amount of their expenses OR the amount of the credit - whichever was the *lesser* amount. So if you did get to claim your total expenses before, then they were less than the amount of the credit at that time. The difference is that in the past, you could take up to 5 years of carrying over the remainder of your available credit until you had used all the amount of the credit vs now you get it back all at once.
Congrats on your adoption!
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