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What does federal credits mean? Is it an actual dollar amount that ill receive?

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What does federal credits mean? Is it an actual dollar amount that ill receive?

Not exactly; it depends on the type of credit and the rest of your return. If you owe tax, Credits can reduce the amount you owe. If you are owed a refund, Refundable Credits can increase that amount, but Nonrefundable credits will not be applied.

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What does federal credits mean? Is it an actual dollar amount that ill receive?

Not exactly; it depends on the type of credit and the rest of your return. If you owe tax, Credits can reduce the amount you owe. If you are owed a refund, Refundable Credits can increase that amount, but Nonrefundable credits will not be applied.

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