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4. What is the maximum basic monthly adoption assistance maintenance payment in Indiana? Ages 0-4Ages 5-13Foster Care$21.27/day$23.10/dayFoster Care with Services$29.04/day$30.83/dayTherapeutic Foster Care$41.18/day$42.97/dayTherapeutic Plus$64.93/day$66.72/day1 more row
4. What is the maximum basic monthly adoption assistance maintenance payment in Indiana? Ages 0-4Ages 14-18+Foster Care with Services$29.04/day$34.32/dayTherapeutic Foster Care$41.18/day$46.46/dayTherapeutic Plus$64.93/day$70.21/dayNon-Ward baby$21.27/day$20.87/day1 more row
A taxpayer is also permitted a $3,000 exemption per adopted child starting in 2022 under SEA 2- 2022(ss). This exemption is in addition to the $1,000 and $1,500 exemptions otherwise provided for the child. To qualify for this exemption, an adoption must be finalized before the end of the taxable year.
Taxpayers who adopted or started the adoption process in 2021 may qualify for the adoption credit. This credit can be applied to international, domestic private, and public foster care adoption. Taxpayers who adopt their spouse's child can't claim this credit.
The Indiana Adoption Program includes an adoption manager and 19 adoption consultants serving Indiana's 92 counties. The adoption consultants assist in the adoptive placement of waiting children by working collaboratively with families, case managers and service providers.
How Much is the Adoption Tax Credit in 2023? Your financial situation will affect the amount you can receive for the adoption tax credit, but the most you can receive for the 2023 Federal Adoption Tax Credit (when you file your taxes in 2024) is $15,950 per eligible child.
Thus, the total Indiana adoption credit for 2023 is $2,900 ($1,380 for Child 1 plus $1,520 for Child 2). Example #3: For 2022, a taxpayer has a credit of $14,000 prior to federal limitations with regard to adoption expenses incurred for one child.