Question

Mary is a single taxpayer and has modified adjusted gross income of $80,000, what is the maximum Adoption Credit she can claim on her 2019 income tax return

Answer 1

$14,080

Step-by-step explanation:

The maximum federal adoption tax credit for 2019 is $14,080 per child adopted.

For single filers, this credit starts to phase out when a family's income is higher than $211,160 and completely phases out if the taxable income is $240,000 or more.

For married people filing together, the tax credit starts to phase out when their taxable income is higher than $400,000.