Bill and Amy were married for 5 years when they decided to starta family. In 2013 they tried with no success. In 2014, they sought medicalhelp, and they incurred $20,000 in medical bills for diagnostic testing andinfertility. In 2015 they had $65,000 in medical bills through theirinfertility doctor, and $5,000 in medical bills from their OBGYN for managementof Jennys pregnancy. In 2016 they had $15,000 in medical and hospital billsfor the birth of their child, Charles. Later in 2016, wanting to give Charles asibling, they spent $3,000 on an adoption attorney. They also spent $5,000 oninstalling a fence around their pool and another $5,000 on home repairs so thatthey could qualify as an adoptive home. In 2017 they adopted two siblings,Darryl and Ellen, from foster care in their state. They had no other adoptionexpenses, as the expenses were paid by the state. The siblings qualified for anadoption subsidy, as siblings were harder to place together in their locationand this was a special situation. Wanting to grow their family further, in 2018Bill and Amy contacted an international adoption agency that facilitatedadoptions from China. In 2018, Bill and Amy paid $40,000 in travel, fees, andlegal expenses relating to the adoption of their daughter, Farrah. Farrah hasseveral medical conditions that, while manageable, meant that she wasconsidered to have high needs. The adoption was not complete until 2019, andthey had to pay an additional $10,000 in travel costs and legal expenses tobring their daughter home.
Bill and Amys household income (their AGI) is as follows for2013 2019.
Bill and Amy come to you and ask you to identify and explainwhat (if any) tax deductions, credits, or tax benefits they are eligible forbased on their journey above. Make sure you consider each item individually,and consult the IRC and the regulations and any other relevant sources of taxlaw in organizing your answer. Please write a letter to Bill and Amy. Sincethese are sophisticated clients, they expect you to cite the appropriateauthority in your letter to them.
2013 AGI: 150K
2014 AGI: 155K
2015 AGI: 175K
2016 AGI: 90K (Because of the pregnancy, Amy was unable to workthat year)
2017 AGI: 185K
2018 AGI: 205K
2019 AGI: 265K
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