- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Yes that was what I was trying to convey; the Tax Calculator shows the full refund of $4,000 (for two kids) even at very low income (regardless if earned or not). How can we report this to Intuit?
Referring back to your other post, we do not have any earned income, so with "very low" non-earned income (investments) we would get $0 for the refundable part?
Since Intuit Tax Calculator is obviously incorrect, I went back to try the efile calculator and put in $20,000 as earned income (salary) just to check. However, efile still showed $0 refund for the Tax Credit, so the efile Tax calculator is also incorrect (it did show earned income tax credit of $6,164 though).
p.s. I am trying to figure this out now so that I know how much to convert from regular IRA to Roth-IRA to take advantage of the full $4,000 Tax Credit.