Residential Energy Credit

[mdipierro]

The number is being pulled through and is correct.  The problem is that the final number is showing as a refund, as opposed to a credit.  We actually didn’t pay anything, so we want to roll the credit to next year.  However, TT is showing it as a refund and says:

“Your federal amended (we had to back and do an amendment) tax return shows you are due a refund of $XX.  The IRS estimates it will take up to 16 weeks to process your amended tax return. Your refund will be mailed to you.”

Don’t get me wrong, I would prefer it to be a refund, but by definition it is a credit.  Maybe this is just how TurboTax labels it, but if so, it is incredibly misleading.  Any thoughts?  And by the way, thank you for your help with this!

[BillM223]

I am not sure that I understand the problem. It's true that there is a difference between a refundable and a non-refundable credit, but even a non-refundable credit can give rise to a refund.

Suppose you had $1,000 in taxes assessed, and you had $1,200 in withholding. Your initial refund would be $200, right?

Now suppose you amended this return to claim a $250 non-refundable credit. The amended return would show a $250 refund, because you still had withheld taxes that you now no longer needed to apply to your assessed tax because of the new credit.

So, non-refundable credit, but can still get you a refund.