Jenny adopts a Vietnamese orphan. The adoption takes three years, two trips to Vietnam, and becomes final in 2014. She pays $10,000 in 2012, $5,000 in 2013, and $5,000 in 2014 of qualified adoption expenses. She has AGI of $150,000.
a. What is the adoption credit Jenny can claim in 2014?
b. How much credit could she claim if the adoption falls through and is never finalized?
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