[McLovin]

This seems unnecessary ambiguous.

Do you actually have to *owe* at least $7500 in income tax when you file your tax return, so you can apply the credit against it?

Or do you just have to incurred $7500 in income tax?

So in the first example, you’d have to had underpaid your taxes that year, at least $7500.

The second example, say you had $125k in taxable income, so you incurred well over $7500 in Fed taxes, but say you paid estimated taxes quarterly so at the time you file your return, there’s $0 owing.

I’d imagine you’d get the full $7500 credit either way (it makes no logical sense otherwise), but there seems to be differing opinions on it. Or lack of clarity (for example, what does the circled part below mean? What does “not available as a refund” mean?)