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Carrie and Jeremy Snow are married with 2 children Amy (7 years old) and John (3 years old). Jeremy teaches accounting at the local community

Carrie and Jeremy Snow are married with 2 children Amy (7 years old) and John (3 years old). Jeremy teaches accounting at the local community college and earns $50,000 per year. Carrie is a full-time student obtaining her master's degree in accounting. Assume their AGI is $50,000. Answer the following questions based on the provided data.

  1. Jeremy paid the daycare center $6,000 to watch John during his work hours and when Carrie is at school. Calculate the maximum childcare credit allowed for Mr. and Mrs. Snow.
  2. Carrie's tuition for the year totaled $17,000. This is her first year of graduate school. Which education credit can Carrie take? Explain your answer.
  3. How much can the Snows deduct for the education credit?

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