Regina and Greg adopted a baby boy in January 2023, and the total cost was $19,000 for qualified adoption costs (agency fees, attorney fees, etc.). Regina and Greg paid most of the expenses during 2022, and the adoption was finalized in 2023. Additionally, they incurred $3,000 for an unsuccessful adoption during 2021. Regina and Greg's 2023 joint adjusted gross income is $200,000. What year should the adoption credit be taken for the adoption expenses incurred, and how much should the credit be in that year? 

Answer rating: 100% (QA)

Regina and Greg can claim the adoption credit for the year their adoption was finali... View the full answer