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In the popout titled "See how your numbers are adding up", does a negative "Your taxes" mean that a credit roll forward will happen?
I have a situation where I owe 22K in taxes, have 24K in solar/biomass and child advanced payment rebates, and paid 18K in. When I click the "Federal Refund" green numbers in the top left corner, it opens up a nice explanation of my refund calculations. I'm a bit confused by the "Your taxes" field showing roughly -2K. I thought the solar/biomass were nonrefundable, meaning if the total rebates were below my tax liability (22K), they would roll over to the next year. Is this because the advanced child tax payment is refundable or just treated differently, so the number can go negative? Just for testing, I increased the solar number to a ridiculously high number, and the "your taxes" only went down by about $40. I assume there would be some indicator somewhere that a rollover would occur?
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March 17, 2022
5:33 PM