I AM UNDER 18 AND HAVE A FEDERAL DEDUCTIONS OF 12000 I THAT RIGHT ? iT DOES NOT SEEM LIKE IT SHOULD BE THAT MUCH
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: 
snowflake7229
New Member

I AM UNDER 18 AND HAVE A FEDERAL DEDUCTIONS OF 12000 I THAT RIGHT ? iT DOES NOT SEEM LIKE IT SHOULD BE THAT MUCH

 
1 Reply
Vanessa
Level 3

I AM UNDER 18 AND HAVE A FEDERAL DEDUCTIONS OF 12000 I THAT RIGHT ? iT DOES NOT SEEM LIKE IT SHOULD BE THAT MUCH

Your deduction if you are claimed as a dependent regardless of age is your earned income plus $350 up to $12,000.  The standard deduction is only subtracted to $0.  It does not take you to below $0 and does not give you a refund, of more than you paid in. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
v
Privacy Settings