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Inquiring about basic personal amount tax credit? am I eligible?

 
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Inquiring about basic personal amount tax credit? am I eligible?

The Basic Personal Amount is a Non-Refundable Tax Credit that every taxpayer receives. This amount of $14,398 is used to "reduce any tax payable you may have". 

This amount is not refunded to you, but it is automatically populated in your Tax return. It can be seen in your Detailed Tax Summary of TurboTax as an entry on Line 30000. To view this you can click on the drop-down arrow beside the refund or balance owing amount that you see on your TurboTax Return page. You can then click on View detailed tax summary, then scroll down to line 30000 to see the Basic Personal Amount.

 

Please note: Non-refundable tax credits are designed to reduce your federal tax payable but they don’t create a tax refund. Refundable tax credits not only reduce the amount of tax you have to pay, but they can help you get a tax refund from the government.

 

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