My tax liability is ~$600, with ~$5,000 self employment taxes due. My MCC is a bit over $1,000. How come at the end of filling it out, it is said that I am not eligible for it this year. The full credit gets carried over to next year.
I don't understand why it doesn't apply to my taxes due this year, or at least to my fed taxes of ~$600.
(Does MCC not work on self employment taxes?)
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