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What amount of adoption credit is allowed

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Problem - Niles and Marsha adopted an infant boy [a U S. citizen). They paid $15,500 in 2019 for adoption-related expenses. The adoption was finalized in early 2020. Marsha received $3,000 of employer-provided adoption benefits. For part {a}, assume that any adoption credit is not limited by modified AGI or by the amount of tax liability.

Required -

a. What amount of adoption credit, if any, can Niles and Marsha take in 2020?

b. Using the information in part {a}, assume that their modified AGI was $223,000 in 2020. What amount of adoption credit is allowed in 2020?

Reference no: EM132899499

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