Susan and Derick finalized an adoption in 2020. Their adoption fees totaled $10,000. They have AGI of $238,520 for 2020. What is their adoption credit? a. $4,000 b. $10,000 c. $7,263 d. $14,300
Susan and Derick finalized an adoption in 2020. Their adoption fees totaled $10,000. They have AGI of $238,520 for 2020. What is their adoption credit? a. $4,000 b. $10,000 c. $7,263 d. $14,300
Chapter7: Tax Credits
Section: Chapter Questions
Problem 18MCQ
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Question
Susan and Derick finalized an adoption in 2020. Their adoption fees totaled $10,000. They have AGI of $238,520 for 2020. What is their adoption credit?
a. |
$4,000 |
|
b. |
$10,000 |
|
c. |
$7,263 |
|
d. |
$14,300 |
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