I just did my taxes on Turbo Tax. I made $45000 in Wis last year. I did get married, my wife is a housewife so she has no income. My daughter started college last fall and we paid her tuition. After doing our taxes, it states that we will get a refund of $5500 from the federal and $1200 from the state. How can this be when we only paid $4350 in taxes to federaL and $2278 to state. I am not complaining but something just don't seem right. I checked my numbers and they were entered correct.
You'll need to sign in or create an account to connect with an expert.
Yes, this is very possible... especially when you have a child in college.
This is very common when you're eligible for refundable credits. You're probably getting a refundable child tax credit for your daughter, and maybe some for her education expenses, as well. So, it's possible that you can get a refund larger than what you've had withheld.
Without
knowing all of your specifics, I'll just guide you to the TurboTax article What
Is the Difference Between a Refundable and a Nonrefundable Credit? so you
can see what I’m referring to as far as refundable credits.
Yes, this is very possible... especially when you have a child in college.
This is very common when you're eligible for refundable credits. You're probably getting a refundable child tax credit for your daughter, and maybe some for her education expenses, as well. So, it's possible that you can get a refund larger than what you've had withheld.
Without
knowing all of your specifics, I'll just guide you to the TurboTax article What
Is the Difference Between a Refundable and a Nonrefundable Credit? so you
can see what I’m referring to as far as refundable credits.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
xuedalong
Level 1
gstanley10-iclou
New Member
crash345u
Level 4
jlogan1
Level 2
Bsquared2
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.