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Deductions & credits
No. It must be used in the year of purchase and only to the extent you have a tax liability to offset. It is not a refundable credit, however you can create a refund of tax withheld and/or estimates paid. One way to generate a tax liability is to sell some stocks at a gain or roll all or part of a regular IRA into a Roth.
‎November 14, 2020
9:29 AM