STANDARD DEDUCTION HIGHER THAN AGI ON FORM 1040

[12]

Hi Guys.

If my standard deduction (single) is higher than adjusted gross income my taxable income is 0.00. Can i obtain a refund, how does its works?

what will be the amount on line 41, form 1040?

Best regard.

[Carl]

Your standard deduction filing single is the "LESSER" of $6,100 or your earned income plus $350.

This has nothing to do with a refund. You can not get back more taxes than you paid in, as shown on your W-2 in box 2.  You are never refunded social security and medicare (boxes 4 and 6).

[Lisa995]

If your taxable income is zero, you'll get any withholding refunded back, but having zero taxable income doesn't give you a refund.

[12]

so, then my line 41 is is equal 0,00, right?

[Lisa995 · Accepted solution]

If the standard deduction exceeds your AGI, then Line 41 is zero, yes.

[12]

thanks