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Retirement tax questions
Thanks for the reply and comment. I was aware that you need to have a tax liability (other than self employment taxes) as that has been commented on in previous threads. I do have a tax liability (line 18 on the 1040) greater than the savings credit amount (as I manually calculate it). I wonder if it has to do with the order that credits are applied? Do refundable credits get applied first, before nonrefundable? I did not receive one of the stimulus payments, so I have a refundable recovery rebate credit which, if applied first, would eliminate my tax liability...and then maybe that is why there in no savings credit??
March 18, 2021
9:09 PM