Savers credit

Forum|Forum|2 years ago
January 29, 2024
1 reply
4 views

I am preparing a return for a 19 year old non-dependent non-student. Single filer no dependents. Before the savers credit there was a $6.00 refund. After applying the savers credit there was a $406.00 refund. Since the Savers Credit is not refundable, shouldn't the refund remain $6.00?

DawnC

Level 15

Not necessarily. Non-refundable means the credit can't lower your tax liability past zero. He probably still had a tax liability when his refund was showing $6. You can see exactly how much of a Saver's Credit he was given by looking at Schedule 3, Line 4. Schedule 3 is part of your tax return (Form 1040), which you can view anytime. How to Preview Form 1040 (including Schedules 1-3).

Line 18 of your Form 1040 shows your tax liability before the Saver's Credit is applied.

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