Although this is not up to date its a great guide! I have gotten a lot of calls this week about taxes.
You can also get the 2011 tax year guide on this site, but you have to be a member. (I just signed up as a member so i have access to it- but dont want to forward by email.).
Anyway this is great info.
Bottom line is you do NOT count foster care payments as income.
you can claim a foster child as a dependant if they lived with you for more than 6 mos in 2011.
and you can write off certain monies you spent on a foster child if you are not claiming them.
Please talk to your tax adviser for more information.
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