Question: a . Explain the distinction between a deduction and a credit. A deduction is an amount that is multiplied by taxable income to determine the

a. Explain the distinction between a deduction and a credit.
A deduction is
an amount that is multiplied by taxable income to determine the tax
an amount that is subtracted from gross income (or adjusted gross income)
an amount that is subtracted from the tax itself
the excess of tax payments over the tax liability
a. Explain the distinction between a deduction and a credit. A

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