Assuming that their total tax on a child’s unearned income for 2016 is $2,400, allocate the total parental tax to Richard and Roberta
January 3, 2018
Calculate the excess advance premium tax credit and the repayment amount for 2016. Information from previous question Annual premiums …………………………………………………….. $9,800 Annual premium for the designated silver plan in the state …………. $10,800
January 3, 2018

What is the adoption credit Carl and Jenny can claim in 2016? b. How much credit could they claim if the adoption falls through and is never finalized?

Carl and Jenny adopt a Russian orphan. The adoption takes 2 years and two trips to Russia and is finalized in 2016. They pay $6,000 in 2015 and $7,500 in 2016 of qualified adoption expenses. In 2016, Carl and Jenny have AGI of $150,000. a. What is the adoption credit Carl and Jenny can claim in 2016? b. How much credit could they claim if the adoption falls through and is never finalized? c. How much credit could they claim if their AGI was $203,100? View Solution:
Carl and Jenny adopt a Russian orphan The adoption takes

 

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