It depends.
Your tax credit can only be used to offset any tax liability. Any excess credit over your tax liability cannot be refunded as this is a nonrefundable credit. However, it can be carried forward.
You can look at your current tax liability by doing the following:
- In the black panel on the left, select Tax Tools
- Then Select Tools below Tax Tools
- Under the Other helpful links section, select View Tax Summary
- Review the line which says Total Tax. If this amount is $0, then you have no tax to offset the credit with. If there is an amount shown, then part of your credit may be used to offset that tax liability.
- Once you are done reviewing this information, click "Back" on the black panel on the left to get back to the interview screens.
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