Chad and Jaqueline are married and have AGI of $150,000. In 2018 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
D) $9,500
An employee may exclude from gross income up to $13,810 in 2018 for amounts paid from a written adoption assistance plan. The exclusion starts to phase out when AGI exceeds $207,140.
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