Mr. and Mrs. Coulter have four dependent children, ages 1, 4,...
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Accounting
Mr. and Mrs. Coulter have four dependent children, ages 1, 4, 7, and 11. Mr. Coulter's salary was \$21,400, Mrs. Coulter's wages totaled $16,200, and the couple had no other income or above-the-line deductions this year. The Coulters paid $3,600 for day care and afterschool child care. Assume the taxable year is 2021 Required: o. Compute the Coulters' child credit. b. Compute the Coulters' dependent care credit. c. Recompute the Coulters' child and dependent care credits if Mr. Coulter's salary was $200,000, Mrs. Coulter's wages totaled $232,000, and the couple earned $5,700 taxable interest income
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