shaylajohnson99
contestada

The Smith family adopted a child. The adoption procedure took about three months, and the family incurred various expenses. Will the Smiths receive any financial benefit for the taxable year?
A they will not receive any financial benefit for adopting the child
B their income tax component will decrease
C they will receive childcare grants
D they will receive a tax credit for the cost borne for adopting the child
E they will receive several tax deductions

Respuesta :

D they will receive a tax credit for the cost borne for adopting the child
or C they will recieve childcare grants
i hope this helps
MsTeel

Answer:

E. They will receive several tax deductions

Explanation:

Certain "reasonable and necessary" adoption related expenses are quantifiable for tax deductions, such as:

  • Court costs
  • Attorney's fees
  • Traveling expenses related to the adoption
  • Certain other costs directly related to the adoption process

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