Is the 8941 tax credit for health insurance refundable?

[Greenbriar]

I'm doing a schedule C for a small company that provides health insurance for its three employees. Sch C shows a loss but the 1040 has a total income tax of about 4500. Do you know if this credit is refundable even if Sked C is a loss? I can't find a written answer to this. Would appreciate any info.

[TaxGuyBill]

It is a non-refundable credit, but it is based on the tax on the tax return, not profit from Schedule C.

It is part of the General Business Credit on Form 3800, so you can see how it works on that. Unused credit (if any) can be carried forward or back.

https://www.irs.gov/pub/irs-pdf/f3800.pdf

[Greenbriar]

Thank you.