Qualified Adoption Expenses (QAE)
What are Qualified Adoption Expenses (QAE)?
Qualified adoption expenses (QAEs) are costs associated with adopting a child. They are generally tax-deductible and may even qualify for a tax credit.
How Do Qualified Adoption Expenses (QAE) Work?
Why Do Qualified Adoption Expenses (QAE) Matter?
Adoption is expensive, and in order to facilitate more of them, the IRS allows parents to recoup some of the costs. However, the costs of adoption vary considerably: parents who adopt special-needs children, for example, receive a full adoption tax credit even if the adoption costs are less than the amount of the tax credit. Additionally, the credit phases out for parents with high incomes.
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