Chad and Jaqueline are married and have AGI of $150,000.In 2017 they adopted a child,while taking advantage of their employer's written adoption assistance program.The adoption cost $9,500,all of which was paid by the employer in accordance with the adoption plan.How much of the employer-paid adoption costs may be excluded from their income?

Question

Quizplus · Accepted Answer

D)An employee may exclude from gross income up to $13,570 in 2017 for amounts paid from a written adoption assistance plan.The exclusion starts to phase out when AGI exceeds $203,540.

Chad and Jaqueline Are Married and Have AGI of $150,000