1-

Carl and Jenny adopt a Korean orphan. The adoption takes 2 years and two trips to Korea and is finalized in 2020. They pay $7,000 in 2019 and $7,500 in 2020 for qualified adoption expenses. In 2020, Carl and Jenny have AGI of $150,000.

If an amount is zero, enter "0".

If required, carry any division out to four decimal places and round final answers to the nearest dollar.

How much credit could they claim if their AGI was $219,520?

2-

Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $9,725 for her tuition and fees.

If required, round your computations to the nearest whole value.

a. Assuming Janie's parents have AGI of $164,200, what is the American Opportunity tax credit they can claim for Janie? $fill in the blank 1acfe4ff5038fa5_1

b. Assuming Janie's parents have AGI of $65,680, what is the American Opportunity tax credit they can claim for Janie?

3-

Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2020, Susan's income is $43,120 and Stan's is $12,000 and both are self-employed. They also have $500 in interest income from tax exempt bonds. The Collins enrolled in health insurance for all of 2020 through their state exchange but did not elect to have the credit paid in advance. The 2020 Form 1095-A that the Collins received from the exchange lists the following information:

Annual premiums	$9,800
Annual premium for the designated silver plan in the state	$10,800
Federal Poverty Line for a family of four	$25,750

Compute the Collins' premium tax credit for 2020.

Click here to access the 2020 Applicable Figure Table.

Round any division to two decimal places before converting to a percent. If required, round your final answer to the nearest dollar.