It's so great when you don't earn any money and the IRS leaves you alone

Sign up, and you'll be able to customize your font size and more! Sign up

Report problem with this ad

Sep 16, 2024
4:27:49pm

TNT Intervention Needed

It's so great when you don't earn any money and the IRS leaves you alone

Report problem with this ad

TNT

Bio page: TNT
Joined: Dec 19, 2001
Last login: Sep 19, 2024
Total posts: 239,918 (11,086 FO)

Report problem with this ad

Messages

Author

Time

Tax experts, I have a question.

BYU71

Sep 16, 4:01pm

Some credits are refundable some are not

Mikey

Sep 16, 4:02pm

Which credit in particular?

Bainge

Sep 16, 4:05pm

I don't know. I didn't know there was

BYU71

Sep 16, 4:08pm

Refundable credits are paid out regardless of taxes due or not

Bainge

Sep 16, 4:17pm

Some credits carry forward if not currently used.

dratax

Sep 16, 4:21pm

Nonrefundable credits, I think.

Plantagenet

Sep 16, 4:56pm

You need to earn more money. Even TNT could answer that question

dratax

Sep 16, 4:22pm

It's so great when you don't earn any money and the IRS leaves you alone

TNT

Sep 16, 4:27pm

yes to the first question, but avoid the word "deduction" here for clarity.

SalmonOfCapistrano

Sep 16, 4:23pm

Yes, tax credit is a reduction of your tax liability or a larger refund.

notsofast

Sep 16, 4:32pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad