Ronald151
Returning Member

Deductions & credits

I have a connected question. If I use EasyStep and fill in the requested information, the response I receive is that I cannot deduct the $7500 from my tax bill. However, the $7500 was an advance on my refund for 2024, which the dealer received. But without being able to deduct the $7500 from my tax bill, I am essentially repaying the government for the $7500 that they paid my dealer. The result is that the $7500 proves to have been a loan rather than a credit. This can't be right.