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M
mike-molecular
April 15, 2025
Question

My other dependents credit is only $86 because it says that is my tax liability, but I owe $2568, why is this caluclating like this?

  • April 15, 2025
  • 1 reply
  • 0 views
I have 3 children, 2 are 17yo HS students, the third is a college student and 21yo. The AI is stating that although they all three qualify as other dependents, the credit was limited to $86 because that is the amount of my tax liability. However, my taxes owed are $2568.

    1 reply

    V
    Vanessa A
    April 15, 2025

    Do you have self-employment income?  If so, Self-Employment taxes are not able to be reduced by any type of tax credit. 

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