Answered: Susan and Derick finalized an adoption…

Susan and Derick finalized an adoption in 2020. Their adoption fees totaled $10,000. They have AGI of $238,520 for 2020. What is their adoption credit? a. $4,000 b. $10,000 c. $7,263 d. $14,300

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter7: Tax Credits

Section: Chapter Questions

Problem 18MCQ

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Question

Susan and Derick finalized an adoption in 2020. Their adoption fees totaled $10,000. They have AGI of $238,520 for 2020. What is their adoption credit?

	a.	$4,000
	b.	$10,000
	c.	$7,263
	d.	$14,300

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