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Problem 6 : Tax Credits Ted and Julia Higgins are married for all of 2 0 2 3 with an AGI of $ 1 7

Problem 6: Tax Credits
Ted and Julia Higgins are married for all of 2023 with an AGI of $175,000 which includes $25,000 of earned income for Ted and $100,000 of earned income for Julie. Their taxable income is 145,000 and tax liability is $20,000.
They have two children, Bryan and Sophia, who meet all of the requirements of a qualifying child for 2023. Bryan is 12 and attends high school full time. The Higgins spend $10,000 during 2023 on child care for Bryan. Sophia is a full-time student in her junior year at UCR. The Higgins spend $6,000 on tuition, books and other course materials for Sophia during 2023.
Required: What is the total amount of tax credits that the Higgins' can report on their tax return?
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