Can my tax refund be larger than my federal income tax withheld?

Can my tax refund be larger than my federal income tax withheld?

Postby che » Thu Mar 10, 2011 10:01 pm

i was unemployed 9 months of last year and did not receive unemployment.
AGI 10k
fed tax withheld 600
deductions 17k
i'm only getting 1500 back ... seems like it should be more?
che
 
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Can my tax refund be larger than my federal income tax withheld?

Postby wyndell84 » Thu Mar 10, 2011 10:03 pm

With income tax returns it varies by what you have in your return. Just because you have 17000 in deductions, does not mean you have 17000 of a potential refund. I am assuming you mean itemized deductions and itemized deductions only reduce your taxable income to 0, any excess does not get added to your refund. I am assuming you are getting a little EIC, making work pay, and your withholding back as a refund. Unless you qualify for other refundable credits, that refund should be correct. Assuming all the math is done correctly.
wyndell84
 
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Can my tax refund be larger than my federal income tax withheld?

Postby fresco25 » Thu Mar 10, 2011 10:06 pm

With income tax returns it varies by what you have in your return. Just because you have 17000 in deductions, does not mean you have 17000 of a potential refund. I am assuming you mean itemized deductions and itemized deductions only reduce your taxable income to 0, any excess does not get added to your refund. I am assuming you are getting a little EIC, making work pay, and your withholding back as a refund. Unless you qualify for other refundable credits, that refund should be correct. Assuming all the math is done correctly.
What are your deductions? Are you a dependent? How old are you? How many kids and how old are they?
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Can my tax refund be larger than my federal income tax withheld?

Postby sayers91 » Thu Mar 10, 2011 10:07 pm

you had $600 withheld, you probably had $400 Make Work Pay credit, and $263 of EIC, I can't see what the additional $237 would apply to but it sounds like $1500 is as much as you might expect
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