Which of the following statements regarding the adoption expenses credit is not true?
A) The adoption expenses credit is a nonrefundable credit.
B) The adoption expenses credit starts to be phased out in 2014 beginning when a taxpayer's modified AGI exceeds $197,880.
C) No adoption expenses credit is available in 2014 if a taxpayer's modified AGI exceeds $237,880.
D) The adoption expenses credit is limited to no more than $13,000 per eligible child in 2014.
E) All of these statements are true.
Correct Answer:
Verified
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