In 2022, Brett and Molly pay $14,000 of qualified adoption expenses in connection with an adoption of an eligible child.

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

In 2022, Brett and Molly pay $14,000 of qualified adoption expenses in connection with an adoption of an eligible child.

Post by answerhappygod »

In 2022, Brett and Molly pay $14,000 of qualified adoptionexpenses in connection with an adoption of an eligible child.Molly’s employer reimburses them for $4,000 of those expenses. Theadoption becomes final in 2022 and Brett and Molly’s modifiedadjusted gross income (MAGI) is $111,500. Brett and Molly meet allthe other requirements for the Adoption Credit. Therefore, whatamount of the adoption expenses are allowable to claim for theAdoption Credit on their income tax return? A. $0 B. $4,000 C.$10,000 D. $14,000
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply