Carla and Bob Finalized an Adoption in 2015

question 28

Multiple Choice

Carla and Bob finalized an adoption in 2015. Their adoption fees totaled $9,500. They have AGI of $207,000 for 2015. What is their adoption credit?

• A)$7,334
• B)$8,077
• C)$9,500
• D)$13,400

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, entering into contracts, and owning assets.

Corporate Form

A legal structure for organizing a business as a separate legal entity, distinct from its owners, with its own rights and liabilities.

Advantages

The positive aspects or benefits associated with a decision, strategy, or action.

Franchise

A business model where a franchisee obtains the rights to operate a business under the franchisor's brand and system in exchange for a fee.