Solved
I had a lost in my rental home but my only refund showing is the taxes I paid + earned income credit. all my other deductions are not impacting my return, is that normal?
No text available
Yes, this is very normal. What's happened is that your standard deduction and exemptions (people on your return times $4,050) have by themselves reduced your taxable income down to $0.
You're right. At this point, a million dollars of child care or donations, or a million dollar rental loss can't reduce your tax below zero. Luckily, Earned Income Credit skirts around this and behaves similarly to the withholding you paid at work.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
