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Gil65
Returning Member

Low federal return

I only got $1 on my federal return. Which is far off from my usual. I did not see a place on turbo tax to input my Veteran health coverage. Did i get a low return for nowhere to put i had health insurance

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1 Reply

Low federal return

There was no place to enter that you have health coverage from the VA, and it would have had no effect on your refund.   The only health insurance information you would have needed to enter would have been if you had a 1095A for marketplace insurance.   If you did not have that kind of health insurance then all you needed to do was say No to the question about it.

 

 

You do not provide any other details so we do not know what kind of income you entered.   Did you receive the $1400 3rd EIP payment?   If not, it should have been on line 30 of your Form 1040.

 

 

No one in this user forum can see your tax return or your screen.  There were major tax law changes that began with the 2018 tax year that seem to continue to surprise some people.  Personal exemptions of over $4000 per person were removed beginning with 2018 returns.

 

 Was something different for 2021?  Did you have less income due to the pandemic?  Did you receive unemployment compensation?  If so, did you have tax withheld from it?

 

There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc.  You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 18?  If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC)  Are you 65 or older ?  If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.

 

If you received advance child tax credit payments between July and December—-remember that you received part of your refund in advance—-so the refund on your tax return can be less than you assumed it would be.

 

 

And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.

 

https://ttlc.intuit.com/questions/1901008-why-did-my-refund-go-down-compared-to-last-year-s

 

Print out 2020  and 2021 and compare them side by side to see what is different. 

 

https://www.postbulletin.com/news/business/tax-preparers-warn-your-refund-may-be-smaller-than-usual/...

 

https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

**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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