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5. Morey and Nancy have three children, Moira age 4, Melissa age 7 and Andrew...

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Accounting

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5. Morey and Nancy have three children, Moira age 4, Melissa age 7 and Andrew age 18. Morey's salary is $68,000 and Nancy's salary is $75,000. Their AGI is $146,000. Morey's mother Irma does not live with them but qualifies as their dependent. During the year, they spend $8,000 on childcare expenses for Moira and Melissa. Calculate the Child and Dependent care credit and the Child and Dependent tax credit for Morey and Nancy's 2021 tax return

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Accounting