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Business & farm
The General Business Credit can only be applied to your tax liability. It is possible that you do not have a tax liability so the business credits can't be used in the current year so they will carry forward. This credit is considered a "nonrefundable credit" so it can only reduce your tax liability to $0, so before the credit is applied you are already at $0 tax liability, so the credit can't be used.
‎February 16, 2023
10:40 AM