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Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $16,150 in 2021...

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Accounting

Niles and Marsha adopted an infant boy (a U.S. citizen). They paid $16,150 in 2021 for adoption-related expenses. The adoption was finalized in early 2022. Marsha received $3,430 of employer-provided adoption benefits.

For part (a), assume that any adoption credit is not limited by modified AGI or by the amount of tax liability.

a. What amount of adoption credit, if any, can Niles and Marsha take in 2022?

b. Using the information in part (a), assume that their modified AGI was $243,000 in 2022. What amount of adoption credit is allowed in 2022?

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