Abel and Loni adopted a boy (a U.S. citizen), during the current tax year and incurred...
Abel and Loni adopted a boy (a U.S. citizen), during the current tax year and incurred a total of $14,675 in qualified adoption expenses. Abel and Loni have modified AGI of $225,000. What is the amount of adoption credit they can take?
Homework Answers
ANSWER
What is the amount of adoption credit they can take?
$5,694
Calculation (for year 2016): ($241,920 - $225,000/40,000) x $ 13,460 = $ 5,694
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