[RE-wrenches] ITC

[Rebekah Hren]

Yes, I agree with Kris. The tax credit is applied as a deduction to line 44
tax (on taxable income)  but the self-employment tax is then added on line
56.  But the same is true of all other deductions, exemptions, and credits
too.
And it doesn't change the fact that if someone has no taxable income they
won't get the credit. I'm self-employed and have happily used the RE
credit.
I'm also certainly not qualified to give anyone tax advice, but I do love
to do my taxes with pencil and paper every year so I can see exactly what
the heck is going on instead of letting software do the crunching! Plus in
NC there is no software/e-filing that can handle the state RE credit, it
has to be on paper.

Cheers,
Rebekah
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