Ask Question
BusinessBusiness
22 February, 03:52

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

+3
Answers (1)
  1. 22 February, 07:21
    0
    Answer: $3200

    Explanation: The child and dependent care credit provides taxpayers a credit break for parents who are responsible for the childcare cost. The maximum credit amount for the year 2020 is $14,300 for one child or dependent and

    However, given that Angelina's AGI is $250,000, she could qualify for partial adoption adoption credit as the credit starts as her income lies between $214,520 to $254,520

    For partial credit : 20% of incurred amount

    0.2 * $16,000 = $3200
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “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 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Suppose that everyone in a used-car example is risk neutral, potential car buyers value lemons at $750 and good used cars at $2 comma 800 , the reservation price of lemon owners is $250 , and the reservation price of owners of high-quality used cars
Answers (1)
Globo-Chem Co. reported net sales of $600 million last year and generated a net income of $132.00 million. Last year’s accounts receivable increased by $17 million. What is the maximum amount of cash that Globo-Chem Co.
Answers (1)
In the traditional keynesian model, if the government increases spending, then real gross domestic product
Answers (1)
Why is career and technical education supported by the government? A. Because it's required in school B. Because it prepares students for jobs C. Because it sends students to state colleges D. Because it leads to higher unemployment
Answers (1)
Which one of the following is not considered as material costs? a. Partially completed motor engines for a motorcycle plant b. Bolts used in manufacturing the compressor of an engine c. Rivets for the wings of a new commercial jet aircraft d.
Answers (1)
New Questions in Business
Market failure occurs when Question 22 options: an unrestrained market economy leads to too few or too many resources going to a specific economic activity. one good is superior to another and drives it out of the market.
Answers (1)
Using accrual accounting, revenues are recorded a. when cash is received at the time services are performed or products have been delivered to customers b.
Answers (1)
On January 1, Great Designs Company had a debit balance of $1,985 in the office supplies account. During the month, Great Designs purchased $463 and $420 of office supplies and journalized them to the asset account upon purchasing.
Answers (1)
Because the auditors of XYX Company accepted a client firm's questionable financial statements when the infractions have occurred over time, James believes that they are· setting ill-conceived goals.· exhibiting motivated blindness.
Answers (1)
One of your friends states that "operations management and supply chain management are primarily of interest to manufacturing firms." Is this true or false? Give some examples to support your answer
Answers (1)
Home » Business » 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
Sign Up Forgot Password?