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21 January, 11:21

Angelina is single and has modified agi of $275,000. she adopted a boy from san antonio, texas, and incurred a total of $16,000 in qualified adoption expenses. what is the amount of adoption credit she can take

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  1. 21 January, 11:44
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    Answer: $3200

    Explanation: The child and dependent care credit provides taxpayers a credit break for parents who are responsible for the childcare cost. The maximum credit amount for the year 2020 is $14,300 for one child or dependent and

    However, given that Angelina's AGI is $250,000, she could qualify for partial adoption adoption credit as the credit starts as her income lies between $214,520 to $254,520

    For partial credit : 20% of incurred amount

    0.2 * $16,000 = $3200
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Home » Business » Angelina is single and has modified agi of $275,000. she adopted a boy from san antonio, texas, and incurred a total of $16,000 in qualified adoption expenses. what is the amount of adoption credit she can take
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