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Santan34
New Member

I made $21,600 last year Federal $883 Medicare $312 and social security 1340 I got three dependents and I supposed to get a refund of $10,000 dollars is that correct.

 
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1 Reply
HelenC12
Expert Alumni

I made $21,600 last year Federal $883 Medicare $312 and social security 1340 I got three dependents and I supposed to get a refund of $10,000 dollars is that correct.

I recreated the situation, as best I could with the information you provided. Yes, TurboTax calculated the refund amount of approximately $10,000.

 

In my scenario:

  1. TurboTax used the Head of Household (HOH)  filing status, which results in a lower tax rate versus Single.
  2. Since the filing status is HOH, the Standard deduction is $19,400.
  3. With three minor dependents, the Earned income credit (EIC) is $6,6,20.
  4. With three minor dependents, the Additional child tax credit is $2,865. 

 

 

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