Carl and Jenny adopt a Korean orphan. The adoption takes 2 years and two trips to Korea and is finalized in 2022. They pay $8,000 in 2021 and $7,500 in 2022 for qualified adoption expenses. In 2022, Carl and Jenny have AGI of $150,000. If an amount is zero, enter "0". If required, carry any division out to four decimal places and round final answers to the nearest dollar. Question Content Area a. What is the adoption credit Carl and Jenny can claim in 2022? fill in the blank 1 of 1$ Feedback Area Feedback Question Content Area b. How much credit could they claim if the adoption falls through and is never finalized? fill in the blank 1 of 1$ 0 Feedback Area Feedback Correct Question Content Area c. How much credit could they claim if their AGI was $229,410? fill in the blank 1 of 1$ 0

Carl and Jenny adopt a Korean orphan. The adoption takes 2 years and two trips to Korea and is finalized in 2022. They pay $8,000 in 2021 and $7,500 in 2022 for qualified adoption expenses. In 2022, Carl and Jenny have AGI of $150,000. If an amount is zero, enter "0". If required, carry any division out to four decimal places and round final answers to the nearest dollar. Question Content Area a. What is the adoption credit Carl and Jenny can claim in 2022? fill in the blank 1 of 1$ Feedback Area Feedback Question Content Area b. How much credit could they claim if the adoption falls through and is never finalized? fill in the blank 1 of 1$ 0 Feedback Area Feedback Correct Question Content Area c. How much credit could they claim if their AGI was $229,410? fill in the blank 1 of 1$ 0

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter12: Tax Credits And Payments

Section: Chapter Questions

Problem 32P

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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 $150,000. If an amount is zero, enter "0". If required, carry any division out to four decimal places and round final answers to the nearest dollar. a. What is the adoption credit Carl and Jenny can claim in 2020?$ b. How much credit could they claim if the adoption falls through and is never finalized?$ c. How much credit could they claim if their AGI was $219,520? $
Carl and Jenny adopt a Korean orphan. The adoption takes 2 years and two trips to Korea and ia finalized in 2022. They pay $8,000 in 2021 and $7,500 in 2022 for qualified adoption expenses. In 2022, Carl and Jenny have AGI of $150,000. If an amount is zero, enter "O". If required, carry any division out to four decimal places and round final answers to the nearest dollar. a. What is the adoption credit Carl and Jenny can claim in 2022? $ b. How much credit could they claim if the adoption falls through and is never finalized? $0 c. How much credit could they claim if their AGI was $229,410? $
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Carl and Jenny adopt a Korean orphan. The adoption takes 2 years and two trips to Korea and is finalized in 2019. They pay $7,000 in 2018 and $7,500 in 2019 for qualified adoption expenses. In 2019, Carl and Jenny have AGI of $150,000. a. what is the adoption credit Carl and Jenny can claim in 2019? b. How much credit could they calaim if the adoption fall through and is never fianlized? c. How much credit could they claim if their AGI was $217,160?
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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. How much credit could they claim if their AGI was $219,520?
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