What is their adoption credit

Assignment Help Accounting Basics
Reference no: EM132675888

Problem - John and Joan pay $16,500 of qualified adoption expenses in 2019 to finalize the adoption of a qualified child. Their AGI is $197,000 for 2019. What is their adoption credit for 2019?

a. $0

b. $16,500

c. $14,080

d. $13,810

Reference no: EM132675888

Questions Cloud

Develop the implementation plan : As a highly valued member of the team, you alone have been selected to develop the Implementation Plan.
What is Saver Credit Virginia and Richard will be eligible : Virginia and Richard are married taxpayers with adjusted gross income of $28,000 in 2019. What is Saver Credit Virginia and Richard will be eligible
What are the adoption credits : The adoption is finalized in 2019. There is no phase-out of the adoption credit. What are the adoption credits for both 2018 and 2019, respectively
What generalizations apply across the cases : What generalizations apply across the cases? What do you find most interesting in the failure stories?
What is their adoption credit : John and Joan pay $16,500 of qualified adoption expenses in 2019 to finalize the adoption of a qualified child. What is their adoption credit for 2019
What is the amount of the foreign tax credit : L has additional taxable income from U.S. sources of $200,000 and U.S. tax liability before credits of $105,000. What is the amount of the foreign tax credit
What is the amount of american opportunity tax credit : Becky, a college freshman, works part-time and pays $1,650 of her college tuition expenses. What is the amount of American Opportunity tax credit
Advantages and disadvantages of ensemble models : Name the basic constructs of an ensemble model. What are the advantages and disadvantages of ensemble models?
What is John American Opportunity tax credit : During the year, he pays $4,000 in qualified tuition for his dependent son, who just started attending Small University. What is John's American Opportunity tax

Reviews

Write a Review

Accounting Basics Questions & Answers

  How did sunbeam falsified revenue

Lead profit to evaporated which lead to know management to focus on several things as an attempt to downsizing, what are they? what did it lead them?

  Calculate the cost of finshed goods inventory

Problem - Missing records, computing inventory costs. Ron needs the ending inventory balances to report first quarter numbers

  The income statement for the timberline golf club

The income statement for the Timberline Golf Club Inc. for the month ended July 31 shows Service Revenue $16,000; Salaries and Wages Expense $8,400; Maintenance and Repairs Expense $2,500; and Income Tax Expense $1,000.

  Without the special order the purchasing managerpredicts

globals special order also requires 500 kilograms of genatope asolid chemical regularly used in the companys products.

  Prepare in general journal form all entries necessary

Prepare in general journal form all entries necessary on the consolidated statements work-papers to eliminate the effects of the intercompany sales

  Refinancing of short term debt on december

Refinancing of Short-Term Debt On December 31, 2010, Alexander Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2011.

  Compute the amount of gross profit realized each year

Compute the amount of gross profit realized each year, assuming Wetzel uses the installment-sales method

  Conducting a fraud investigation

Many reasons exist to conduct a fraud investigation, but the specific objectives usually involve obtaining evidence for one or more of the following purposes:

  Cuarto corporation just invested in a project that has an

cuarto corporation just invested in a project that has an internal rate of return of 24. this project is expected to

  You are the senior accountant responsible for recording

you are the senior accountant responsible for recording accrued liabilities at the end of the companys fiscal year.

  Prepare an october income statement for the business.

On October 1, Keisha King organized Real Answers, a new consulting firm; on October 3, the owner contributed $84,000 cash. On October 31, the company's records show the following items and amounts.

  Determine the total estimated uncollectibles

Determine the total estimated uncollectibles. Prepare the adjusting entry at March 31 to record bad debts expense

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd