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June 6, 2019
Question

Not sure if I got enough back on my tax return last year.

  • June 6, 2019
  • 3 replies
  • 0 views
Made $24,000 with $1500 in donations, $500 in work expenses (transportation), $750 in medical expenses. Only got $180 back on my return. Claimed the typical for single person. Had health insurance all year.

3 replies

Employee
June 6, 2019
How much did you have withheld?
Employee
June 6, 2019
"$500 in work expenses (transportation)"  Commuting expenses are not deductible.
Employee
June 6, 2019

The things you mentioned, like the donations, medical expenses, etc. were not enough to have any effect on your tax refund or tax owed.  In order to affect your tax return they would have to exceed your standard deduction, and they could not have.  Your refund would have been based solely on the amount withheld and your tax liability.

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, job-related expenses, casualty and theft losses, for example, must meet thresholds that are pretty hard to reach.  The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Here are the Standard Deductions for 2016

Your standard deduction lowers your taxable income.  It is not a refund 

2016 Standard Deductions

Single    $6300  (65 or older + $1550)

Married Filing Separately   $6300  (65 or older +  $1250)

Married Filing Jointly           $12,600  (65 or older + $1250@)

Head of Household $9300  (65 or older + $1550)

**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.**