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Stormin Mormon Stormin Mormon is offline
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Default What Is a tax deduction? I'll tell you what itis ...

"Clear as mothers milk"
-- Lt. Col. Henry Blake.

--
Christopher A. Young
Learn more about Jesus
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"Michael Dobony" wrote in
message ...

A deduction is a reduction in income. A nonrefundable credit
is a reduction
of tax owed up to the amount on line 44 on Form 1040 (Child
Tax Credit).
These are on lines 47 to 53 on Fomr 1040. Refundable tax
credits are the
ones your neighbor pays you, such as the Making Work Pay,
the EIC, the
Advanced Child Tax Credit. These are the line 61 through
line 70 credits.