Question
Tax Drill - Adoption Credit In late 2018, Randy and Rachel Erwin paid $7,000 in legal fees, adoption fees, and other expenses directly related to
Tax Drill - Adoption Credit
In late 2018, Randy and Rachel Erwin paid $7,000 in legal fees, adoption fees, and other expenses directly related to the adoption of an infant son, Jameson. In 2019, the year in which the adoption becomes final, they pay an additional $8,000. Their AGI in 2019 is $135,000.
a. Randy and Rachel are eligible for a $ adoption credit in 2019.
b. Assume the same facts but the taxpayer's AGI for 2019 is $220,000. Round any division to three decimal places and round your final answer to the nearest dollar.
Randy and Rachel are eligible for a $ adoption credit in 2019.
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
15th Edition
0273760882, 9780273760887
