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Refundable Credit

A type of tax credit that can result in a tax refund even if it reduces the taxpayer's liability below zero. For example, if you owe $500 in taxes but qualify for a $1,000 refundable credit, you would receive a $500 refund.

Qualified Individual

Someone who meets specific criteria for this credit, including being blind, having a disability (certified by a doctor or receiving certain federal benefits), or being age 60 or older.

Home Accessibility Improvement Expenditures

Money spent on specific modifications to a main home, such as installing ramps, handrails, widening doorways, or making bathrooms accessible, to make it easier for a qualified individual to live there.

Taxable Year

The annual accounting period for which income tax is calculated, typically the calendar year for most individual taxpayers.

Modified Adjusted Gross Income (MAGI)

A taxpayer's adjusted gross income (AGI) with certain deductions or exclusions added back in. For this credit, it determines if a taxpayer's income is above the threshold for the credit to start phasing out.

Disability Certification

A document from a physician verifying that an individual has a medically determinable physical or mental impairment causing severe functional limitations, or is blind, and that meets specific Social Security Act criteria.