Hi Guys.
If my standard deduction (single) is higher than adjusted gross income my taxable income is 0.00. Can i obtain a refund, how does its works?
what will be the amount on line 41, form 1040?
Best regard.
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If the standard deduction exceeds your AGI, then Line 41 is zero, yes.
Your standard deduction filing single is the "LESSER" of $6,100 or your earned income plus $350.
This has nothing to do with a refund. You can not get back more taxes than you paid in, as shown on your W-2 in box 2. You are never refunded social security and medicare (boxes 4 and 6).
If your taxable income is zero, you'll get any withholding refunded back, but having zero taxable income doesn't give you a refund.
so, then my line 41 is is equal 0,00, right?
If the standard deduction exceeds your AGI, then Line 41 is zero, yes.
thanks
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