Problem 5: Tax Credits liability is $10,000. Bryan. Sophia is a 20 year old full-time student in her junior year at UCR. The Higgins spend $1,500 on books, $3,000 on tuition, and $4,000 on room and board for Sophia. Required: What is the total amount of tax credits that the Higgins' can report on their tax return? Problem 6: Investor Losses Manny Kant is invested two passive activities: Categorical, LLC and Imperative, Inc. As of 1/1/2021 he had the following At-Risk Basis and Suspended Losses in each Investment: In addition, Manny was allocated the following passive income/(loss) from the investments in 2021 and 2022: Required: What is the ended at-risk basis in Imperative, Inc as of 12/31/2022