Which of the following best describes the effect of a tax credit? A. It reduces a person’s gross income. B. It reduces a person’s adjusted gross income. C. It reduces a person’s taxable income. D. It reduces a person’s tax liability.
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Which of the following best describes the effect of a tax credit?
A.
|
It reduces a person’s gross income. | |
B.
|
It reduces a person’s adjusted gross income. | |
C.
|
It reduces a person’s taxable income. | |
D.
|
It reduces a person’s tax liability. |
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