The National Foster Parent Association publishes an annual guide for foster, adoptive and kinship parents that explains the ins-and-outs of how in-home care affects your federal taxes.
The Tax Benefits for Foster, Adoptive Parents and Kinship Caregivers resource guide provides you with valuable information worth several thousand dollars or more in tax benefits.
This guide is only available to Individual and Friends of NFPA members (join NFPA now!):
For in-depth adoption credit information, we recommend that you also visit the North American Council on Adoptable Children website.
If you plan to use online tax software to file your taxes, take a look at Reviews.com's section on Online Tax Software to find one that's right for you. (This is not an endorsement for Reviews.com or the Online Tax Software page. This suggestion is provided only as a resource for our members.)