Shelby's Adoption Credit exceeds her tax liability for this year. The excess credit is: ...

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Accounting

Shelby's Adoption Credit exceeds her tax liability for this year. The excess credit is:
Refundable in the current year.
Nonrefundable and cannot be carried to another tax year.
Nonrefundable, but can be carried back two years.
Nonrefundable, but can be carried forward up to five years.

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