Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $15,500 in 2021 for adoption-related expenses. The adoption was finalized in early 2022. Marsha received $3,170 of employer-provided adoption benefits. For part (a), assume that any adoption credit is not limited by modified AGI or by the amount of tax liability.

Abel and Loni adopted a boy (a U.S. citizen) during the current tax year and incurred a total of $16,425 in qualified adoption expenses. Abel and Loni have modified AGI of $227,500. What is the amount of adoption credit they can take?

Paola and Isidora are married; file a joint tax return; report modified AGI of $143,480; and have one dependent child, Dante. The couple paid $8,760 of tuition and $15,375 for room and board for Dante ( a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2023. Sfill in the blank 1

In late 2019, Randy and Rachel Erwin paid $7,000 in legal fees, adoption fees, and other expenses directly related to the adoption of an infant son, Jameson. In 2020, the year in which the adoption becomes final, they pay an additional $8,000. Their AGI in 2020 is $135,000. a.  Randy and Rachel are eligible for a $fill in the blank 1 adoption credit in 2020. b.  Assume the same facts but the taxpayer's AGI for 2020 is $220,000. Round any division to three decimal places and round your final answer to the nearest dollar. Randy and Rachel are eligible for a $fill in the blank 2 adoption credit in 2020.

Considering the information below, calculate Jane tax liability (including Medicare Levy and Medicare Levy Surcharge, if applicable, and ignore any tax offsets such as LITO and LMITO): Jane is a married tax resident of Australia in the tax year 2018-2019 and has no private health insuranceAssessable income for the year is of $195,000Total deductions for the year are $25,000

Scott and Bonnue, married taxpayers, earn $258,000 in taxable income and $7,700 in interest from an investment in City of Tampa bonds. Using the 2023 U.S. tax rate schedule for married filing jointly, answer the following question regarding their tax rates. How much federal tax will the owe? Blank 1 Blank 1 Add your answer

Scot and Vidia, married taxpayers, earn $254,000 in taxable income and $7,100 in interest from an investment in City of Tampa bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? Note: Do not round intermediate calculations. Round "Average tax rate" & "Effective tax rate" to 2 decimal places.

In 2021, Lisa and Fred, a married couple, had taxable income of $305,200. If they were to file separate tax returns, Lisa would have reported taxable income of $126,700 and Fred would have reported taxable income of $178,500. Use Tax Rate Schedule for reference. What is the couple’s marriage penalty or benefit?

Jorge and Anita, married taxpayers, earn $150,500 in taxable income and $40,500 in interest from an Investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly). Required: a. If Jorge and Anita earn an additional $100,500 of taxable income, what is their marginal tax rate on this income? b. What is their marginal rate if, instead, they report an additional $100,500 in deductions? (For all requirements, do not round Intermediate calculations. Round your answers to 2 decimal places.) a. Marginal tax rate b. Marginal tax rate % %

Jared and Lima began and finalized the adoption of US child with special needs in 3021. Their total adoption expenses are $3613. They modified adjusted gross income was 203000. What is the maximum amount they may claim for adoption credit