What does private adoption cost?
The costs of private adoption depend on several factors. These include separate legal representation for the adoptive parents and the birth mother/father; a “home study” by a licensed professional; advertising expenses; travel costs (if applicable); and possibly counseling and/or medical expenses for the birth mother – depending on the nature of insurance coverage, if any. An amount between $10,000 and $15,000 is likely, but costs can be higher or lower. It is illegal to pay a birth parent or anyone else to adopt a child. The Federal government has enacted an adoption tax credit of up to $10,160 (in 2003) that can be used to offset adoption expenses. For more information on the tax credit, visit the IRS web site at http://www.irs.gov/ and look at “Publication 968, Tax Benefits for Adoption.
