in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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Its because it is a non-refundable credit. This means the credit is limited to your tax liability after certain other credits are applied. So, the credit can reduce your current year tax liability to zero (which helps you get a bigger refund from other sources), but it will not directly add the remainder to your refund. You have to carry forward the remaining amount of your credit to future years.
Its because it is a non-refundable credit. This means the credit is limited to your tax liability after certain other credits are applied. So, the credit can reduce your current year tax liability to zero (which helps you get a bigger refund from other sources), but it will not directly add the remainder to your refund. You have to carry forward the remaining amount of your credit to future years.
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