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Author Question: Evan and Barbara incurred qualified adoption expenses in 2015 of $6,000, and then incurred $9,000 ... (Read 90 times)

karateprodigy

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Question 1

Dwayne has general business credits totaling $30,000 before limitation. His regular tax liability is $83,000 and his tentative minimum tax is $79,000. What amount of general business credit can Dwayne take this year?
◦ $4,000
◦ $14,500
◦ $25,000
◦ $30,000

Question 2

Evan and Barbara incurred qualified adoption expenses in 2015 of $6,000, and then incurred $9,000 more in 2016 when the adoption of their child became final. Their 2015 AGI was $110,000 and their 2016 AGI was $100,000. The allowable adoption credit is
◦ $13,460 in 2016.
◦ $15,000 in 2016.
◦ $6,000 in 2015 and $7,460 in 2016.
◦ $6,000 in 2015 and $9,000 in 2016.


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Marked as best answer by karateprodigy on Sep 13, 2020

xMRAZ

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karateprodigy

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


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Reply 3 on: Yesterday
Wow, this really help

 

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