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Self Employed online software states that I have 1 dependent that qualifies me for the $500 Other Dependent Credit, but the $500 does not show up in my refund. Why?
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Self Employed online software states that I have 1 dependent that qualifies me for the $500 Other Dependent Credit, but the $500 does not show up in my refund. Why?
@taxpayingindivid - what is on Line 22 of form 1040?
that $500 credit should appear on Line 19 of Form 1040 and is what is called a 'Non-refundable credit' - it can reduce Line 22 but can't take Line 22 below zero...is that the issue?
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Self Employed online software states that I have 1 dependent that qualifies me for the $500 Other Dependent Credit, but the $500 does not show up in my refund. Why?
Yes! Thank you so much for replying!
That turned out to be the issue. The software does not give users access to the actual forms until after they have paid. Since, I did not want to pay for software that might have issue that would result in the loss of $500 I did not have access to the answer.
My recommendation to Turbotax is that they add a link to each nonrefundable tax credit page that identifies those credits as nonrefundable and explains what that means to the uninitiated.
Thank you again for time to help me!
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