Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
Nessa44052
New Member

With 10,200 unemployment tax break, standard deduction is more than income, but taxes were not withheld, so should I still expect a refund on that tax break?

I also received the American Opportunity Tax credit, so that covered the taxes I owed when I filed back in February. But with that unemployment tax break, should I now actually get the credit from the AOTC since my taxable income is now zero?
2 Replies
Critter-3
Level 15

With 10,200 unemployment tax break, standard deduction is more than income, but taxes were not withheld, so should I still expect a refund on that tax break?

LOOK at your return ... the max amount of the AOTC you can get refunded is $1000 so if your tax liability was zero originally and you have $1000 on line 29 of the form 1040 then there will be no more refund to get.  

Hal_Al
Level 15

With 10,200 unemployment tax break, standard deduction is more than income, but taxes were not withheld, so should I still expect a refund on that tax break?

Q.  Should I still expect a refund on that tax break?

A.  No.  Your tax is unready 0.  While there are exceptions, to that general statement, you do do not appear to qualify.

 

Q. Should I now actually get the credit from the AOTC since my taxable income is now zero?

A.  Yes. The AOTC has two parts, refundable and non-refundable. You still get the refundable portion (up to $1000). The refundable portion is shown on line 29 of form 1040 and will not change because of the $10,200 unemployment tax break . 

Dynamic AdsDynamic Ads
Privacy Settings
v