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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 4
Problem : Tax Credits
Ted and Julia Higgins are married for all of with an AGI of $ Their taxable income was $ and their US tax liability is $
They have one child, Sophia, who is and a fulltime student in her junior year at UCR. She incurred $ of expenses for tuition and books and $ for room and board. Half of her expenses were paid using scholarships and the remainder by Ted and Julia.
In addition, Ted received dividends of $ from a foreign company on which he paid $ in foreign taxes.
Required: What is the total amount of tax credits that the Higgins' can report on their tax return?
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