For example,
- I had $4000 withheld from paycheck.
- I owe $3000 in federal tax.
- I qualify for $1000 nonrefundable tax credit.
Would I get $2000 refund?
If I only get $1000 in refund, I'd rather have $2000 withheld from paycheck this way I can take advantage of the nonrefundable tax credit to reduce my tax liability and get a greater refund. but since I have more withheld than what I owe, the nonrefundable tax credit is not doing me any favor.
