Maryellen Epplin worked in Mexico for part of the year and earned $50,000 while she was there.This income will not be included in her gross income for the year.This represents a tax:

Question

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The income earned by Maryellen Epplin in Mexico that will not be included in her gross income is known as an exclusion, as it is excluded from taxation. A deduction refers to expenses that can be subtracted from gross income, an exemption reduces taxable income, a credit is a dollar-for-dollar reduction in tax liability, and a refund refers to money returned if a taxpayer paid more tax than they owed.

Maryellen Epplin Worked in Mexico for Part of the Year