John and Joan pay $16,500 of qualified adoption expenses in 2018 to finalize the adoption of a
Question:
John and Joan pay $16,500 of qualified adoption expenses in 2018 to finalize the adoption of a qualified child. Their AGI is $197,000 for 2018. What is their adoption credit for 2018?
a. $0
b. $16,500
c. $13,460
d. $13,810
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Business questions
-
1. Joan, a single mother, has AGI of $85,000 in 2014. In September 2014, she pays $5,000 in qualified tuition for her dependent son who just started at Big University. What is Joans American...
-
In connection with the adoption of an eligible child who is a U.S. citizen and who is not a child with special needs, Sean pays $4,000 of qualified adoption expenses in 2017 and $3,000 of qualified...
-
Carl and Jenny adopt a Russian orphan. The adoption takes 2 years and two trips to Russia and is finalized in 2014. They pay $6,000 in 2013 and $7,500 in 2014 of qualified adoption expenses. In 2014,...
-
Prepare journal entries for each of the following transactions: 1. Purchase equipment in exchange for cash of $22,400. 2. Provide services to customers and receive cash of $5,100. 3. Pay the current...
-
Jack Hammer Company completed the following transactions during 2013. The annual accounting period ends December 31, 2013. Apr. 30 Received $600,000 from Commerce Bank after signing a 12-month, 6...
-
1. Write a brief memo to Zoe explaining the importance of data validation during the input process. 2. Suggest at least three specific data validation checks that might help reduce input errors. 3....
-
A simple pendulum of length \(0.8 \mathrm{~m}\) is released from the initial position of \(80^{\circ}\) from the vertical. How long does it take to reach the position \(\theta=0^{\circ}\) ?
-
1. Tiana Morales is the director of the customer call center for Pierce Software. For the past three months, she has been keeping track of the support calls the center receives, and asks for your...
-
What is the relationship between chronic stress and accelerated aging, and what can be done to mitigate these effects ?
-
Automatic control of helicopters is necessary because, unlike fixed-wing aircraft which possess a fair degree of inherent stability, the helicopter is quite unstable. A helicopter control system that...
-
Taxpayer L has income of $55,000 from Norway, which imposes a 40 percent income tax, and income of $45,000 from France, which imposes a 30 percent income tax. L has additional taxable income from...
-
Janie graduates from high school in 2018 and enrolls in college in the fall. Her parents pay $4,000 for her tuition and fees. a. Assuming Janies parents have AGI of $170,000, what is the American...
-
1. The student council at Gotham College is made up of four freshmen, five sophomores, six juniors, and seven seniors. A yearbook photographer would like to line up three council members from each...
-
mean? What do the following RTL (register transfer language) expressions a. [$400] [R2] + 12 b. [$510] [R2] + [12] c. [R1] [$200] - [$15] +3 d. [RO] [$400 - $30] +5
-
4. Consider the following integer programming (IP) problem. Maximize Z = 3X + 2X s.t. 4X + 2X 45 2X + 3X 38 X + X 15 X, X 20 X, X, are integers (a) Solve the LP relaxation graphically. (b) Use the...
-
Write a Python class called Converter. The user will pass a length and a unit when declaring an object from the class-for example, c = Converter (9, 'inches'). The possible units are inches, feet,...
-
For the scores shown in the steam and leaf display, what is the lowest score? 3 5213 4 234 6 25 8 913 9 88239 a. 31 b. 55 c. 13 d. 625
-
A function f defined on stacks of integers satisfies the following properties. f(0) = 0 and f (push (S, i)) = max (f(S), 0) + i for all stacks S and integers i. If a stack S contains the integers 2,...
-
Explain and give at least five examples of ways entrepreneurs can use small size familiarity, flexibility, and informalityto improve their HR processes.
-
Find the numerical value of each expression. (a) sech 0 (b) cosh -1 1
-
Which of the following is likely a deductible business educational expense? a. Leah is a selfemployed tax preparer. The State Board of Taxation requires Leah to attend federal and state taxation...
-
Which of the following is not deductible by the selfemployed taxpayer? a. A subscription to The CPA Journal by a CPA b. A subscription to The Yale Medical Journal by a doctor c. A subscription to...
-
Which of the following selfemployed taxpayers are most likely permitted to deduct the cost of their uniform? a. A lawyer who wears a business suit b. A furnace repairman who must wear overalls while...
-
How has technology brought about social change in your lives in comparison to your parents' and your grandparents' generation? how has technology brought about change in your grandparents'/parents'...
-
Identify the role and function of the major components of the Canadian criminal justice system Demonstrate the manner in which the criminal justice system components relate and interact with each...
-
Design a Turing Machine (TM) for the following language, give formal description of the TM and draw state diagram: {w|w is a string over the alphabet {0, 1} and number of 1's in w is divisible by 3}....
Study smarter with the SolutionInn App