10- Please provide examples Niles and Marsha adopted an infant boy (a U.S....
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Accounting
10- Please provide examples
Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $18,750 in 2017 for adoption-related expenses. The adoption was finalized in early 2018. Marsha received $3,850 of employer-provided adoption benefits. For question (a), assume that any adoption credit is not limited by modified AGI or by the amount of tax liability.
- What amount of adoption credit, if any, can Niles and Marsha take in 2018?
- Using the information in question (a), assume that their modified AGI was $240,000 in 2018. What amount of adoption credit is allowed in 2018? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)
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