Question

multiple choice question
which of the following is a type of tax credit?
refundable
deduction
semi - refundable

Explanation:

Tax credits are categorized by their refundability. Refundable credits allow taxpayers to receive the full credit amount even if it exceeds their tax liability, resulting in a refund. Semi-refundable credits allow a partial refund if the credit exceeds tax liability. A deduction reduces taxable income, not a type of tax credit.

Answer:

A. Refundable
C. Semi-refundable