Question

Ella and Jordan have been married five years. They are in the process of adopting a child and are meeting with their financial planner to ensure their finances are in order. They have spent $$10,000$ on the adoption, and the financial planner told them there is an adoption tax credit.

Which of the following statements regarding the adoption expenses credit is$/$are true?

A$.$The adoption expenses credit is subject to a MAGI phase$-$out limitation$.$

B$.$Their adoption expenses are under the limit for the credit for the current year.

C$.$The adoption expenses credit is a nonrefundable credit.

D$.$All of these statements are true.