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    gtalarico's Avatar
    gtalarico Posts: 12, Reputation: 1
    New Member
     
    #1

    Feb 9, 2010, 02:18 PM
    Tax Refund - Does this make any sense?
    Hello and thank you for your time.

    I am single, no dependents, and not claimed as a dependent by no one.

    My total wage was about $9,000
    Fed Tax paid: $700
    VA State Paid: $300

    Here is what TurboTax told me my refunds were:

    Fed: $1,100
    ($700, since my Taxable income was zero, + $400 for Making work Pay Credit)

    State: $300
    (Was I really supposed to get a full refund on these? I didn't think the deductions for VA taxes were more than $9000)

    Is there something wrong, or am I missing something here?

    Thanks
    Gui
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
     
    #2

    Feb 9, 2010, 02:36 PM

    $5,700 for singles is your deduction from the $9,000 wages. This would have left you with a balance of monies that you would have owed taxes on.

    You figured out something wrong. Try redoing it again.
    MLSNC's Avatar
    MLSNC Posts: 158, Reputation: 17
    Junior Member
     
    #3

    Feb 9, 2010, 04:29 PM

    Turbo tax is correct. Even though $9,000 less the standard deduction ($3,000) and exemption ($930) looks like it leaves taxable income of $5,070, the Virginia instructions state that you do no have to file if your Virginia Adjusted Gross Income is less than $11,250. Therefore since your VAGI is less than the filing threshold of $11,250, you owe no taxes and are entitled to the refund. Just a little quirk in the way Va. Does things.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    Feb 10, 2010, 11:00 AM
    Agreed!

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