I am filing a return for a dependent child who had $1623 in wages, $537.49 in tips and $100 withheld. TT shows taxable income as zero but also shows return as zero. This does not make sense but looking to understand why. Thanks for any help anyone has!
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I agree that it doesn't make sense. To try to figure out what's going on, please look at the Form 1040. What are the exact amounts on lines 1, 9, 11, 15, 16, 24, 25a, 25d, 33, 34, and 35a?
Were the wages, tips, and withholding reported on a W-2?
Are you using TurboTax Online or the CD/Download TurboTax software? What edition (Basic, Deluxe, etc.)?
Hi rjs,
Thanks for your help, I appreciate it very much. My son was a minor and based on the W2 there were no federal income tax withheld. There was only Social Security and Medicare withheld. So I will have him reconfirm his pay stubs. My guess is that this is why the return came back as zeros as I indicated earlier. Fortunately his employer is a close friend and I can follow up to understand why no federal taxes were withheld.
I am using TurboTax Premier.
Only income tax can be refunded, not Social Security or Medicare tax. That's why his refund is zero. If no income tax was withheld, there is nothing to refund.
If $2,160 of wages and tips is your son's only income for the year, he is not required to file a tax return. Since he is not eligible for a refund, there is no reason for him to file.
It's good that no income tax was withheld. It saves him the trouble of filing a tax return to get a refund, since he doesn't have to pay any income tax.
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