Nonrefundable Tax Credits

question 112

Multiple Choice

Nonrefundable tax credits

• A)only offset a taxpayer's tax liability.
• B)may only be used if the taxpayer is receiving a refund.
• C)can be carried back two years and carried forward 15 years if they exceed tax liability in the current year.
• D)allow the excess over the taxpayer's tax liability to be paid to the taxpayer.

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