George and Kathy vacationed in Guatemala last year and after a visit to a local orphanage, decided to adopt a three-year-old little boy named Marcus. George and Kathy felt their annual AGI of $260,000 could adequately provide for another child and that their time and cost would be greatly rewarded. This year, Marcus came to live with the family and his adoption became final this year. The couple incurred qualified adoption costs of $20,000 this year.

How much of an adoption credit can the couple use on their income tax return for the current year? Assume they file MFJ.

George and Kathy vacationed in Guatemala last year and after a visit to a local orphanage, decided to adopt a threeyear-old little boy named Marcus. George and Kathy felt their annual AGI of $260,000 could adequately provide for another child and that their time and cost would be greatly rewarded. This year, Marcus came to live with the family and his adoption became final this year. The couple incurred qualified adoption costs of $20,000 this year. How much of an adoption credit can the couple use on their income tax return for the current year? Assume they file MFJ. in developi Clara, developing a plan to a the following Personal Background and Information Clara Morrish (Age 68) Clara is a retired homemaker. She is a recent widow. Clara was born on April is, 1953. Tim Morrish (deceased) Clara was married to Tim Morrish, who died November 1, 2021, at the age of 69 after a brief battle with cancer. His date of birth was June 1, 1952. Tim's estate is in probate. Tim was employed 45 years as a supervisor at ABCC0, Inc. (ABC) before retiring at age 65 . The Morrishes They were married for 50 years. Clara's health is fair. The Morrishes' Children Clara has two children from her marriage to Tim: George (age 50) and Vince (age 49). George and Vince are each married, healthy, employed, and self-sufficient. The Morrishes' Grandchildren George and his wife, Kathy, have one daughter, Sarah (age 18). Sarah is currently a senior in high school and will be a freshman at a university in September. The cost of tuition for the university is currently $20,000. Clara would like to pay Sarah's tuition for this year. As a graduation gift, Clara is paying for Sarah's trip to Europe this summer. The cost of this trip is $3,000. Vince and his wife, Laena, have one son, Kirby (age 17). Kirby is a junior in high school. Kirby is in need of orthodontic work that will cost $6,000. Clara would like pay for Kirby's orthodontic work. Clara is also considering gifting stock worth $9,00 to Kirby