3518887
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If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help. Here are the instructions:
TurboTax Online:
Open your return -Go to the menu panel on the left side of your return and select Tax Tools.
TurboTax Desktop:
If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:
We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.
You'll need to provide more info for a definitive answer. But "business barely staying afloat" provides a hint.
The money you hear about people getting for just filing a tax return claiming kids requires them to have some earned income (wages or self employment). Without earned income, they are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit. Both credits are calculated on the amount of earned income you have. No earned income means no "refund". A small amount of earned income means a small refund. The child tax credit does not "kick in" unless you have at least $2500 of earned income.
For the self employed, your earned income is the net profit shown on Schedule C. If your business is showing a loss, you have no earned income for the refundable credits.
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