Are NYC refundable credits taxable on 1040?

USA Discussion in 'General Tax Discussion' started by Confused333, Mar 19, 2017 at 9:46 PM.

  1. Confused333

    Confused333

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    Concerning line 10 on form 1040: are the NYC School Tax credit and/or the NYC Enhanced Real Property Tax Credit (for renters) supposed to be included on line 10? They are called "refundable credits" on NY state tax forms and you can receive both of them even if you pay no taxes at all. So, does the IRS consider them taxable?
     
    Confused333, Mar 19, 2017 at 9:46 PM
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