maris tax liability is $200.00. she qualified for a $250.00 tax credit and was paid $50.00 for the unused…

maris tax liability is $200.00. she qualified for a $250.00 tax credit and was paid $50.00 for the unused credit amount. which type of tax credit did mari qualify for? nonrefundable partially refundable traditional refundable

maris tax liability is $200.00. she qualified for a $250.00 tax credit and was paid $50.00 for the unused credit amount. which type of tax credit did mari qualify for? nonrefundable partially refundable traditional refundable

Answer

Brief Explanations:

A refundable tax - credit allows taxpayers to receive a refund for any amount of the credit that exceeds their tax liability. Since Marci's tax liability is $200 and she has a $250 tax - credit and is paid $50 for the unused credit amount, this indicates a refundable tax - credit. Non - refundable credits can only reduce tax liability to zero, and partially refundable credits do not fully refund the excess over tax liability in all cases. Traditional is not a standard classification for tax credits in this context.

Answer:

D. Refundable