- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
It has nothing to do with your refund. It depends on how much tax you owe. A credit reduces your tax. If you have no taxable income, therefore no tax, it will not help you. As Cynthiad66 said, the credit is not refundable.
A nonrefundable tax credit means you get a refund only up to the amount you owe. A refundable tax credit means you get a refund, even if it's more than what you owe.
‎April 11, 2021
9:18 AM