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tipptipp89
February 7, 2023
Question

Is my total tax credit supposed to be higher than my federal refund?

  • February 7, 2023
  • 1 reply
  • 0 views
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1 reply

JohnB5677
JohnB5677
February 7, 2023

It is possible.

A Non-Refundable tax credit is capped at a taxpayer’s tax liability.

A Refundable credit will be for the full value of the credit regardless of what your tax liability is.


Examples of Refundable tax credits are:

  1. Earned income tax credit.
  2. Premium tax credit
  3. American opportunity tax credit
  4. Additional child tax credit

 

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    Critter-3
    Critter-3
    February 7, 2023

    You are asking from TT Live, for which you pay extra. Please contact a rep.
    https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

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