In 2020, Henry and Eva paid $2,500 of qualified domestic adoption expenses. The adoption did not become final until 2021, and they paid an additional $3,200 in qualified expenses that year. The child they adopted did not have any special needs. Their modified adjusted gross income was $165,000. What is the maximum amount they may be eligible to claim for the Adoption Credit on their 2021 return?
In 2020, Henry and Eva paid $2,500 of qualified domestic adoption expenses. The adoption did not become final until 2021, and they paid an additional $3,200 in qualified expenses that year. The child they adopted did not have any special needs. Their modified adjusted gross income was $165,000. What is the maximum amount they may be eligible to claim for the Adoption Credit on their 2021 return?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2020, Henry and Eva paid $2,500 of qualified domestic adoption expenses. The adoption did not become final until 2021, and they paid an additional $3,200 in qualified expenses that year. The child they adopted did not have any special needs. Their modified adjusted gross income was $165,000. What is the maximum amount they may be eligible to claim for the Adoption Credit on their 2021 return?
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