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I went from getting 5889 back in all to having it all reduced i need help and ANSWERS
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I went from getting 5889 back in all to having it all reduced i need help and ANSWERS
A $6,000 refund is very high, so I think you may have misread. The refund meter will change, so please wait until you have entered all of your W-2, etc forms.
Unless you are dependent, you get $4,050 personal exemption. This is a deduction from income, before the tax rate is applied. It is not a tax credit or a refund. You also get a Standard deduction, which is again a subtraction from income. TT refers to these as "Tax Breaks," which can be confusing.
So go slow and watch for data entry errors (such as commas v. decimal points). Ad a comment below if you still need help.
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I went from getting 5889 back in all to having it all reduced i need help and ANSWERS
A $6,000 refund is very high, so I think you may have misread. The refund meter will change, so please wait until you have entered all of your W-2, etc forms.
Unless you are dependent, you get $4,050 personal exemption. This is a deduction from income, before the tax rate is applied. It is not a tax credit or a refund. You also get a Standard deduction, which is again a subtraction from income. TT refers to these as "Tax Breaks," which can be confusing.
So go slow and watch for data entry errors (such as commas v. decimal points). Ad a comment below if you still need help.
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