When applying credits against a taxpayer's gross tax liability, nonrefundable personal credits are applied first, then business credits, and finally refundable personal credits.

Name: When applying credits against a taxpayer's gross tax liability, nonrefundable personal credits are applied first, then business credits, and finally refundable personal credits.
Brand: Quizplus
Rating: 4.7 (58 reviews)

Question

Quizplus · Accepted Answer

This is correct as per IRS guidelines for applying credits against a taxpayer's gross tax liability.

When Applying Credits Against a Taxpayer's Gross Tax Liability, Nonrefundable