topic Confused 🤔 in Business & farm

Confused 🤔

PattyCa — Wed, 19 Feb 2025 07:59:02 GMT

I have a question my transcript have codes 766 and 768. With other amounts. But my 846 code says my original refund amount that I was getting at first. So that means I won't get the amount for the other codes ?

Re: Confused 🤔

KeshaH — Wed, 19 Feb 2025 14:12:11 GMT

The amounts in codes 768 and 766 should already be included in the amount you have for code 846.

Re: Confused 🤔

PattyCa — Wed, 19 Feb 2025 14:51:27 GMT

My code 846 is original refund I was getting when I filed which is 7419

And the codes 766 and 768 is more than my original refund. So that's my question I don't get the refund for 766 and 768 ?

Re: Confused 🤔

NicolleR1 — Wed, 19 Feb 2025 18:41:22 GMT

Code 768 Refers to the Earned Income Credit, Code 766 refers to other tax credits that might be applicable. Even if these codes are bigger than your refund, it doesn't mean that your refund should be equal to these codes.

The overpayment or "refund" consists of payments and/or credits in excess of your tax liability.

What does "tax liability" mean? Is that the amount I still owe?

See the image below for reference. This is an example of a summary breakdown. You can find a breakdown of your tax summary on the left panel of your TurboTax screen under Tax Tool> Tools> View Tax Summary