Which of the Following Statements Regarding the Adoption Expenses Credit

question 75

Multiple Choice

Which of the following statements regarding the adoption expenses credit is not true?

• A)The adoption expenses credit is a nonrefundable credit.
• B)The adoption expenses credit starts to be phased out in 2012 beginning when a taxpayer's modified AGI exceeds $189,710.
• C)No adoption expenses credit is a available in 2012 if a taxpayer's modified AGI exceeds $229,710.
• D)The adoption expenses credit is limited to no more than $13,360 per eligible child in 2012.
• E)All of the above statements are true.

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Operating Profit

Earnings from a company's core business operations, excluding deductions of interest and taxes.

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A reduction in the retail price of goods, offered by wholesalers or manufacturers to retailers.

Discount

The reduction applied to the price of goods, services, or securities, or the amount by which the market value of a bond falls below its par value.

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A collection of golf clubs, typically including a variety of woods, irons, and a putter, used to play golf.