turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I received a tax credit for $4500 in MD for Fire, Rescue, Emergency Medical Services Volunteer Work - it only made a difference of ~$340 to the better for me ... why?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
JohnW15
Intuit Alumni

I received a tax credit for $4500 in MD for Fire, Rescue, Emergency Medical Services Volunteer Work - it only made a difference of ~$340 to the better for me ... why?

When you claimed the $4,500 amount for this volunteer work on your Maryland return, it reduced the amount of your Maryland adjusted gross income – that’s the amount that your Maryland taxes are based on.  It’s not a dollar-for-dollar reduction in taxes, it just lowers the amount of Maryland taxes you pay based on the Maryland Tax Table or Computation Worksheet Schedules.


View solution in original post

1 Reply
JohnW15
Intuit Alumni

I received a tax credit for $4500 in MD for Fire, Rescue, Emergency Medical Services Volunteer Work - it only made a difference of ~$340 to the better for me ... why?

When you claimed the $4,500 amount for this volunteer work on your Maryland return, it reduced the amount of your Maryland adjusted gross income – that’s the amount that your Maryland taxes are based on.  It’s not a dollar-for-dollar reduction in taxes, it just lowers the amount of Maryland taxes you pay based on the Maryland Tax Table or Computation Worksheet Schedules.


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question