2967024
i file as head of household for 2022.
i have a child whom i can claim as dependent and a small amount of day care charges too.
my income (W2) is in the $80k range.
i have no other side income or anything to claim.
using turbo tax, it shows me that i owe $1300 as federal tax.
how can i reduce the tax? are there any deductions and/or substructions that i am missing ?
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If you are claiming a Dependent, you may want to go through the following topics in the Deductions & Credits section: Child & Dependent Credit, and Dependent Care Credit to check your entries.
Go back to your W-2 entry and make sure it is correct. Check your Box 12 entries for Retirement Plan or HSA contributions. However, It could simply be that your employer did not withhold enough Federal Tax on your Wages.
Here's detailed info on How to Estimate Federal Withholding.
If you did not contribute to a retirement plan at work, you can make an IRA Contribution prior to tax filing deadline to reduce your tax. Here's Tips to Lower Your Tax Bill.
i did get a Child & Dependent Credit of $2000
and Dependent Care Credit of $600 ( i can only get 0.20% of $3000 maximum allowed per dependent)
in Box 12, i have: DD $11882.52 and D $4615.48
turbo tax takes these values automatically and i did not enter anything my self.
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