Question

amend

Forum|Forum|5 years ago
June 29, 2020
3 replies
0 views

I filed single made 16382. too much for EIC so I know why I didn't qualify for it but I paid 882.00 in federal taxes and only received 464.00 in my return shouldn't I have received the full 882.00? In line 11b my taxable income is 4182.00 my friends is 0 why do I have amount there?

VolvoGirl

Employee

Your taxable income is your gross income minus the Standard Deduction. The Standard Deduction for Single is 12,200.

16,382-12,200= 4,182 that you pay tax on.

The tax on 4,182 is $418

https://www.irs.gov/pub/irs-pdf/i1040tt.pdf

R

Regueiro511Author

thank you, that was very helpful I got it now

O

Opus 17

Employee

The standard deduction is $12,200. Your gross income is $16,382 so your taxable income is $4182. Your federal tax on that is $418, or 10%. If you had $882 in withholding, you should expect a refund of $464 (the amount of withholding that was more than your tax.)

So what's the problem exactly?

T

Texas Roger

Employee

You must pay tax on the difference between your income of $16,382 and the standard deduction of $12,200 or $4182. The tax on the $4182 is 10% or $418. So you got the correct amount of refund of $464 from the total of $882 that was withheld.