Your
taxable income is $0 because your adjusted gross income of $xxxxxis
less than your $xxxxxxx of total deductions and your $xxxxx of total
exemptions combined.
It also explains below
Your effective tax rate is -5.98%. This percentage is based off your regular income tax (not including any self employment tax), minus certain credits, divided by your adjusted gross income.
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The childcare credit is not a refund. It can reduce the amount of tax you owe. Since you do not owe anything, the childcare credit does not benefit you.
The childcare credit is not a refund. It can reduce the amount of tax you owe. Since you do not owe anything, the childcare credit does not benefit you.
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