For Hopeful Adoptive Families
Adoption Grants, Tax Credits, and Financial Assistance
Adoption is a significant financial commitment, but there are many ways to offset costs, non-profit grants, the federal adoption tax credit, employer benefits, and sometimes loans.
1. Federal Adoption Tax Credit
The IRS offers a federal adoption tax credit per child, adjusted annually. You claim it on IRS Form 8839 in the tax year the adoption is finalized. Visit IRS Form 8839 for the current figure and consult your tax professional for advice on your situation.
2. Adoption Grants
Non-profit adoption grants are a major funding source for many adoptive families. Each has its own eligibility and application process. Commonly-used programs include:
- ●Gift of Adoption Fund
- ●Show Hope
- ●National Adoption Foundation
- ●Help Us Adopt
- ●A Child Waits Foundation
We link to these programs as a starting point, A Act of Love is not affiliated with them and doesn't guarantee any outcome.
3. Employer Adoption Benefits
Many employers now offer adoption benefits, typically a lump-sum reimbursement, paid leave, or a combination. Check your benefits handbook or ask HR.
4. Adoption Loans
Some lenders offer dedicated adoption loans. Home-equity loans and personal loans can also be used. Speak with a financial advisor about the right option for your situation.
Ohio Adoption Grant
Ohio residents: the Ohio Adoption Grant Program provides per-child reimbursements for adoptive families. Eligibility and amounts vary by year.