|
In response to
"Hmm... if I understand my tax credits (and I don't!), a $7500 tax credit does NOT equal $7500 in your pocket nor does it equal a $7500 discount on the car's price. Yes? No? Maybe? -- nm*"
by
Mop
|
It’s a non-refundable credit, so cannot exceed your tax liability for that year in combination with any other non-refundable credits.
Posted by
znufrii
Apr 12 '21, 10:44
|
How much you would otherwise owe when you file your return has nothing to do with it.
|