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If I paid in $675 and I have a dependent why am I only getting back $478 on my refund

 
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5 Replies

If I paid in $675 and I have a dependent why am I only getting back $478 on my refund

We cannot see your tax return or your screen.   We do not know who your dependent is.  Are you claiming a child as a dependent or are you claiming someone else?   What kind of income did you enter?   What is your filing status?   Provide some details.   Do not put in any personal information like your SSN.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
JohnB5677
Employee Tax Expert

If I paid in $675 and I have a dependent why am I only getting back $478 on my refund

Its difficult to say without seeing your tax return.

 

Your tax refund is based on several things.

  1. Total Income
  2. You are taxed on total income, not on each individual income source.
  3. The combined income will be taxed higher than any individual source.
  4. Be sure to confirm that you have accounted for every income source.
  5. Withholdings
    1. Each income source may have their own withholding,
    2. If you didn’t tell your employer that you had other income, you may not have had sufficient withholdings.
    3. Be sure that all withholding amounts have been properly accounted for.
  6. Deductions
    1. Deductions represent the amount that can be subtracted from your income before the tax calculation is completed.
    2. There are two ways to get the deductions.
      1. The standard deduction for single filers is $13,850
      2. Itemized deductions are an accumulation of various authorized deductions.
      3. If you choose to post the Itemized deductions, TurboTax will determine the alternative that is to your best advantage.
  7. Credits 
    1. Credits represent an actual amount that reduces your Tax or increases your Refund.
    2. There are a variety of credits that will significantly impact your taxes.
    3. Tax laws change regularly, and the criteria for Credits can change drastically.
    4. If you received a credit in a previous year that you didn’t get in the current year, it will have a significant impact.

If you have your previous year's tax return you should compare it to the current tax return and evaluate any changes.

If you have the Desktop version of TurboTax, you can see your current tax return (1040) under the FORMS mode.

If you’re Online, you can see your 1040 by going to:

  1. Tax Tools (on the sidebar)
  2. Tools
  3. From the dropdown View Tax Summary
  4. On the sidebar Preview my 1040
  • Line 15 - Taxable Income
  • Line 24 - Total Tax.
  • Line 25 - Withholdings.
  • Line 33 - Payments including Credits.
  • Line 34 - Overpayments.
  • Line 37 - Tax owed.  Please take these steps to preview your 1040 in TurboTax Online: 
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If I paid in $675 and I have a dependent why am I only getting back $478 on my refund

I have myself and 1 dependant other than a child and I paid in $675 on taxes I grossed $ 21000 AGI I paid in $1303 in on SS and $304.00 med and my refund is only $478

If I paid in $675 and I have a dependent why am I only getting back $478 on my refund

Social Security taxes and Medicare tax withheld are not refundable.

If I paid in $675 and I have a dependent why am I only getting back $478 on my refund

You do not get back anything that was withheld for Social Security or Medicare.   The amount in box 2 of your W-2 is the amount they use to determine how much--if anything--you get back as a federal refund.   So if you have an adult dependent for which you are getting the $500 credit for other dependents, and do not qualify for earned income credit then with about $7150 of taxable income, the refund amount you mention sounds correct.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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