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