It may be that TurboTax was trying to take advantage of some Non Refundable Credits.
The Standard Deduction may allow a greater refund from these credits.
Did you qualify for any of these credits?
- Child and Dependent Care Credit,
- Lifetime Learning Credit,
- Saver's Credit, and
- Foreign Tax Credit.
These are Non-Deductible Credits.
This means that if you reduce your total tax to zero, the credit stops.
- For example, if you are entitled to a $2,000 credit and you owe a total of $1,500 in taxes, you will only get $1,500 of the credit.
- Please don't confuse the refund or amount you owe with the total tax owed. The Total Tax Owed is on line 24 of the 1040 tax return.
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