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I have prepared by 2022 tax return using TurboTax. It says zero refund and zero tax due. How is this possible?

 
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LindaS5247
Employee Tax Expert

I have prepared by 2022 tax return using TurboTax. It says zero refund and zero tax due. How is this possible?

It would be possible to have no taxes due or no refund,  if your wages were under the standard deduction amount and you had no federal withholding taken from your wages.

 

For single taxpayers and married individuals filing separately, the standard deduction is $12,950

For married couples filing jointly is $25,900, and  

For heads of households, the standard deduction is $19,400.

If you're at least 65 years old or blind, you can claim an additional 2022 standard deduction of $1,400 ($1,750 if using the single or head of household filing status).  

If you're both 65 and blind, the additional deduction amount is doubled

 

There are a number of reasons why your refund amount may change from one year to the next. Some of the most common reasons are because you earned more income this year, you did not withhold enough taxes from your pay or you did not make enough estimated tax payments, or your deductions and credits were reduced this year. 

 

 I would check all of your entries.  Make sure your Form W-2 is properly entered. If any Federal Tax was withheld (Box 2 of Form W-2) is very important to be correctly entered.  It will determine if you are due any refunds from this withholding based on your tax return information.

 

TurboTax has a built in review and checks and balances into the program. However, it can only review what you have entered. If you went through the review process prior to transmitting your return and it cleared you to file, then your return is most likely accurate.

 

TurboTax has an Accuracy Guarantee that will reimburse you for any penalties and interest if the IRS or a state agency charges you that because of our calculation error.

 

For this reason, we also offer TurboTax Live where you can ask credentialed tax professionals on the phone questions about your return, and even ask for a line-by-line review where a tax professional will review your return with you and then sign it as your tax preparer. 

 

Please see TurboTax Live if you are interested in Live help.

 

Of course, we in the Community are also here to answer your specific questions, although we cannot see your tax data or tax return.


Click here for reasons why your refund may be less than expected.

 

 

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