Download Adoption Tax Credit Calculator Template In Excel

Adoption Tax Credit Calculator is ready-to-use excel template which helps you to calculate the Adoption Tax Credit for 4 different scenarios.

So, With the help of this template, you can calculate adoption credit for the adoption of a domestic normal and special needs child and foreign normal and special needs child.

Furthermore, this template can be use for any of the year. All you have to do is enter the adoption credit limit and the applicable year.

Adoption tax credit 2021

Adoption Tax Credit is a provision that provides the taxpayer the opportunity to deduct expenses spent in the adoption process. A taxpayer can be a qualify expenses approved by the IRS.

Adoption Tax Credit Calculator

We have created simple and easy Adoption Tax Credit Calculator Excel template with predefine formulas and formatting. Enter your actual expenses for the adoption process. It will automatically calculate claimable adoption credit for you.

Adoption details consist of the following:

Year of Finalization of Adoption

The claim depends on type of adoption. For domestic adoption, the expenses paid before and during particular year can be claimed in the following year of payment.

You can even claim if the adoption has not finalized or even an eligible child is not identified.

In case of foreign adoption, expenses paid before and during the year can only be claim in the year when the adoption becomes final.

Adoption Credit 

IRS changes adoption credit limit every year. The credit limit for year 2019 is $ 14,080. Insert the amount that is applicable for the particular year you plan to take this credit.

Moreover, Parents adoption is a normal eligible child, you can claim actually spent expenses up to $ 14,080. Parents adopting eligible special needs are eligible for the maximum amount of $ 14,080 credit in the year of finalization.

Adoption Type

Firstly, Select the type of adoption. It can be either domestic or foreign. Rules are different for both types of adoption.

Adopted Child Type

Similar to the above, rules for availing the credit are different as per adopt child.

Child’s Age at the time of finalization

However, Insert the age of the child at the time of the finalization of the adoption. A child is only eligible for adoption credit if is under the age of 18 who is a U.S. citizen or resident (including U.S. territories) or a non-US citizen.

Download this Adoption Tax Credit Calculator template in Excel Format

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  1. Download this free Excel Template: Once you’ve browsed through our collection of templates and find the one that best fits your needs. Once you’ve found the template you want, click on the download button.

  2. Replace sample data with your actual data: Once the template is downloaded, open it in Excel. You’ll see that it is already set up with sample data. To start analyzing your own data, simply replace the sample data with your actual data.

  3. Customize the template: Our templates are completely editable, which means you can customize them to fit your specific needs. For example, you can change the formatting, add or remove columns, or create new charts and graphs.

  4. Use the Excel template: Once you’ve fed in your data and customized the template, you’re ready to start using it for data analysis. Use the various tools and features of Excel to analyze and visualize your data, and make informed business decisions.

  5. Save and share: Once you’ve finished working on the template, save it to your computer and share it with other members of your team or stakeholders as needed.

Click Download Button To Get Adoption Tax Credit Calculator Excel Template

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