Chad and Jaqueline Are Married and Have AGI of $150,000

question 40

Multiple Choice

Chad and Jaqueline are married and have AGI of $150,000.In 2015 they adopted a child,while taking advantage of their employer's written adoption assistance program.The adoption cost $9,500,all of which was paid by the employer in accordance with the adoption plan.How much of the employer paid adoption costs may be excluded from their income?

• A)$0
• B)$5,000
• C)$5,250
• D)$9,500

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Definitions:

Social Environment

The surrounding of an individual that includes social relationships, culture, and institutions that influence their life and development.

W.Lloyd Warner

an American sociologist known for his studies on social class structure and societal organization.

Collectivistic Cultures

Cultures that prioritize the group over the individual, emphasizing interdependence, family values, and social harmony.

Individual Achievement

The success or accomplishment of personal goals by an individual, often measured by personal effort or ability.