Answer the following questions a. Explain the distinction between a deduction and a credit b. Which is worth more, a $10 deduction or a $10 credit? c. Explain the difference between refundable and nonrefundable credits a. Explain the distinction between a deduction and a credit. while a credit is A deduction is b. Which is worth more, a $10 deduction or a $10 credit? In general, a $10 is worth more than a $10 because the results in a $10 tax savings. The savia from a is less than 100% of $10, depending on the tax bracket that applies to the taxpayer. c. Explain the difference between refundable and nonrefundable credits If a refundable credit exceeds the taxpayer's tax liability the taxpayer will If a nonrefundable credit exceeds the taxpayer's tax lia the taxpayer will Answer the following questions a. Explain the distinction between a deduction and a credit b. Which is worth more, a $10 deduction or a $10 credit? c. Explain the difference between refundable and nonrefundable credits a. Explain the distinction between a deduction and a credit. while a credit is A deduction is b. Which is worth more, a $10 deduction or a $10 credit? In general, a $10 is worth more than a $10 because the results in a $10 tax savings. The savia from a is less than 100% of $10, depending on the tax bracket that applies to the taxpayer. c. Explain the difference between refundable and nonrefundable credits If a refundable credit exceeds the taxpayer's tax liability the taxpayer will If a nonrefundable credit exceeds the taxpayer's tax lia the taxpayer will