ts $($FA$25)$

DeQuan Anthony

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Part $2$ of $3$

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Answer the following questions:

a$.$ Explain the distinction between a deduction and a credit.

b$.$ Which is worth more, a $$200$ deduction or a $$200$ dedr?

c$.$ Explain the difference between refundable and nonrefundable credits.

a$.$ Explain the distinction between a deduction and a credit.

A deduction is an amount that is subtracted from gross income $($or adjusted gross income$),$ while a credit is an amount that is subtracted from the tax itself

b$.$ Which is worth more, a $$200$ deduction or a $$200$ credit?

In general, a $$200$ is worth more than a $$200$ because the $$ results in a $$200$ tax savings. The savings from a depending on the tax bracket that applies to the taxpayer. $$ is less than $100\%$ of $$200,$