It said my total tax is $947 and my total payment/credits are $1196, does it mean I dont have to pay tax and get $249 tax refund?
053391
5 Replies
CherylW
Level 3
Jun 3, 2019 11:10:18 AM
Yes.
Tax on line 44 (1040) or 28 (1040A) -
Total payments line 74 (1040) or 46 (1040A) =
refund.
Alex1236
New Member
Feb 1, 2024 10:28:42 AM
Hello my tax refund it's 1000 but Total Payments/Credits it's 2000 dollars no I have to pay it
AbrahamT
Level 8
Feb 1, 2024 10:40:13 AM
Just to clarify, what do you mean by my tax refund is 1,000 but Total payment/ Credits is 2,000. Where exactly is that showing in your Turbotax program?
Alex1236
New Member
Feb 1, 2024 10:47:24 AM
Just want to know what's Total Payments/Credits
VolvoGirl
Level 15
Feb 1, 2024 10:51:27 AM
Payments are any withholding from your W2 or 1099 forms or estimated payments you paid. Credits would be like the Child Tax Credit one Earned Income Credit. Those are deducted from the total tax on all your income giving you a refund or a tax due if your payments weren't enough to cover the tax on your income.