Vincent and Maria, whose modified AGI is $164,000, adopted a little girl from Mexico which was finalized in 2015. They incurred a total of $16,000 in qualified adoption expenses. What is the amount of adoption credit they can claim in 2015?

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The maximum adoption credit for 2015 is $13,400 per child. As Vincent and Maria adopted one child, they can claim a credit of up to $13,400. However, the credit begins to phase out for taxpayers with modified AGI above $201,010 and is completely phased out for modified AGI of $241,010 or higher. Since Vincent and Maria's modified AGI is $164,000, they are eligible for the full credit of $13,400.

Vincent and Maria, Whose Modified AGI Is $164,000, Adopted a Little