Niles and Marsha adopted an infant boy (a U. S. citizen). They paid $17,500 in 2016 for adoption-related expenses. The adoption was finalized in early 2017. Marsha received $3,600 of employer-provided adoption benefits. For question a) assume that any adoption credit is not limited by modified AGI or by the amount of tax liability.
A. What amount of adoption credit, if any, can Niles and Marsha take in 2017? $9,970
B. Using the information in question a), assume that their modified AGI was $222,000 in 2017. What amount of adoption credit is permitted in 2017? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)
+5
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Niles and Marsha adopted an infant boy (a U. S. citizen). They paid $17,500 in 2016 for adoption-related expenses. The adoption was ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Home » Business » Niles and Marsha adopted an infant boy (a U. S. citizen). They paid $17,500 in 2016 for adoption-related expenses. The adoption was finalized in early 2017. Marsha received $3,600 of employer-provided adoption benefits.