Foreign Earned Income Exclusion - The maximum amount of foreign earned income that can be excluded for:
2017
is $ 102,100.
If both spouses have foreign earned income each spouse qualifies for the exclusion
Adoption
Credit and Exclusion - A taxpayer can claim a credit of up to $13,570 for 2017 for the expense of adopting an eligible child.
The same qualifying expenses cannot be used for both the credit and exclusion.
Qualified expenses are adoption fees, attorneys
fees, curt costs, travel expenses (including meals and lodging) while away from home and re-adoption expenses related the to adoption
of a foreign child.
The limit is a cumulative, per child limit over all tax years (not an annual limit)
An attempt that
leads to adoption and any unsuccessful attempt to adopt a different child are treated as one effort.
Unsuccessful efforts
- the credit and exclusion can be claimed for expenes to adopt a U.S. citizen or resident child even if the adoption never becomes
final. The credit and exclusion cannot be claimed for a foreing child unless the adoption becomes final.
Eligible
child: a child under 18 years old or physically or mentally incapable of self care (excludes adopting a spouse's child)
Special
Needs Child - The $13,400 credit or exclusion is allowed even if the taxpayer does not have qualified adoption expenses.
Modified
AGI phaseout starts at $ 203,540 and is completely phased out at $ 243,540
