This section illustrates those credits that can reduce a taxpayer’s tax bill below $0, resulting in a refund to the taxpayer
These Refundable Credits include the Earned Income Credit (calculated), the American Opportunity Credit, the Premium Tax Credit, the Refundable Child Tax Credit, and a handful of others. Note that in Peter and Paula's case below, the child tax credit and dependent care credit expenses show up as refundable credits in 2021, bot not in 2022, due to tax law changes.
The "Earned Income Credit," "Refundable American Opportunity Credit," "Premium Tax Credit," and "Other Refundable Credit" subsections can be expanded to provide further detail on those specific line item credits as seen below.
