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Business Tax Credits

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Business Tax Credits


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Your general business credit consists of your carryover of business credits from prior years plus the total of your current year business credits. You subtract these credits directly from your tax. All of the following credits, with the exception of the electric vehicle credit, are part of the general business credit. The form you use to figure each credit is shown below.

If you file a Form 1040 Schedule C, you may be eligible to claim the Earned Income Tax Credit (EITC). To learn more about EITC, refer to It’s easier than ever to find out if you qualify for EITC, or use the EITC Assistant to find out if you are eligible.

 

 
 

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