Max and Nora have modified AGI of $75,000,and adopted a little boy from San Antonio,Texas,in the current year and incurred a total of $13,000 in qualified adoption expenses.In addition,Max's employer provided the couple with adoption benefits of $4,000.What is the maximum amount of adoption credit they can take this year?

Question

Quizplus · Accepted Answer

The maximum amount of adoption credit they can take this year is $9,000. This is because they incurred $13,000 in qualified adoption expenses but received $4,000 in employer-provided adoption benefits, which reduces the amount they can claim for the credit to $9,000 ($13,000 - $4,000 = $9,000).

Max and Nora Have Modified AGI of $75,000,and Adopted a Little