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  76) Jesus and Mindy have modified AGI of $210,000, adopted

Question :   76) Jesus and Mindy have modified AGI of $210,000, adopted : 2125633

 

76) Jesus and Mindy have modified AGI of $210,000, adopted a girl from Miami, Florida, and incurred a total of $18,000 in qualified adoption expenses. What is the amount of adoption credit they can claim in the current year? (Do not round interim calculations)

A) $987.

B) $12,823.

C) $13,810.

D) $18,000.

77) Angelina is single and has modified AGI of $275,000. She adopted a boy from San Antonio, Texas, and incurred a total of $16,000 in qualified adoption expenses. What is the amount of adoption credit she can take?

A) $0.

B) $6,805.

C) $13,810.

D) $16,000.

78) Which of the following statements regarding adoption credits is not true?

A) There is a dollar limit to the maximum credit allowed per adopted child.

B) Form 8839 must be filed to claim the credit.

C) Adoption of foreign country children does not qualify for the credit.

D) Adoption of a child of taxpayer's spouse does not qualify.

79) Which of the following statements regarding adoption credits is not true?

A) Qualified expenses do not include employer reimbursements.

B) An eligible child may be up to the age of 18.

C) The credit may be claimed regardless of the taxpayer's modified AGI.

D) Qualified expenses include adoption fees, attorney fees and court costs.

80) Shawn and Dahlia are married; both work and have one qualifying child. They had AGI of $19,000. What is their Earned Income Credit?

A) $0.

B) $5,716.

C) $3,461.

D) $6,431.

 

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