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 adoption credit for 2023 is $15,950. Max and Nora can claim the lesser of the qualified adoption expenses ($13,000) minus the employer-provided benefits ($4,000), which equals $9,000.

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