Credits

[MichaelD-7]

So I was applying for the Child Tax Credit and the Home Office Credit and qualified for both however they lowered my refund instead of increasing it. And I was wondering why this would happen.

[TeresaM]

Some tax credits are based on your income and if you have self-employed expenses that lower your income, they lower the refundable tax credit.
 

You can preview the information on your 1040 form by clicking on Tax Tools, on the left

• Select Tools 
• Then select View Tax Summary, first on the list under Helpful Links.  This will show basic information about the return.
• In the upper left-hand area, in the menu, click on Preview My 1040
• This will show a picture of the information on the tax form and there is a vertical scroll bar on the right-hand side, to scroll down the return. 

Some key numbers on your 1040 tax return are:

Line 15 - Taxable Income

Line 24 - Total Tax

Line 25 - Withholdings

Line 33 - Payments including Credits

Line 34 - Overpayments

Line 37 - Tax owed
 

[MichaelD-7]

Thanks for taking the time to respond to my question, I appreciate it, Have a Blessed Day! Michael D