$6300 fed refund - Only paid $2300 from wages?

[d3n]

Well... as a member of the military I expected a refund. I figured it would be pretty decent.

Last year I paid about $2300 in federal taxes. Filing my taxes using Taxcut It has added up deductions and credits for the following; a first time home buyer deduction, child tax credit for four children in the home (two being from foster care), an Adoption Credit, Adoption Expense deductions, Educational Deductions, and Capitol Loss deductions, and has decided that I am entitled to $6301from the Federal Govt.


I really did not realize that I could get back more than I contributed.

 

[VTBigBear]

lol nice deal!!

 

[notfred]

I put in $2300, but I'm only getting $300 back.

 

[her209]

I owe the government money. :|

 

[d3n]

I guess I am going to get audited

 

[kermalou]

there is something wrong there. you cannot get more than you paid, unless it's the earned income credit ( that is the only refundable credit)

go over it again.

 

[Kyteland]

Originally posted by: her209
I owe the government money. :|

How is that a bad thing? That means you didn't over pay and give them an interest free loan....

 

[d3n]

Originally posted by: kermalou
there is something wrong there. you cannot get more than you paid, unless it's the earned income credit ( that is the only refundable credit)

go over it again.

Well, I am waiting for my H&R block telephone call. I expect that maybe the excess will fall into some type of carry over field for next year. As much as I go over it everything seems correct

 

[Mister T]

My fiance and I paid over 50K in taxes

 

[CZroe]

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

?! You rich bastard.

 

[MacBaine]

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

And how large of a salary did that come out of

 

[arcenite]

Originally posted by: MacBaine

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

And how large of a salary did that come out of

a nice large, family business tax thingy??

 

[Mister T]

I live in the most heavily taxed state in the country... gotta love NYC....

 

[d3n]

Originally posted by: MacBaine

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

And how large of a salary did that come out of

No salary gets a 50k bill. I'd wager that most all of that capital gains tax on investment deals.

 

[Mister T]

Originally posted by: aRCeNiTe

Originally posted by: MacBaine

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

And how large of a salary did that come out of

a nice large, family business tax thingy??

No just two working professionals pulling 80 hour weeks

 

[Mister T]

Originally posted by: d3n

Originally posted by: MacBaine

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

And how large of a salary did that come out of

No salary gets a 50k bill. I'd wager that most all of that capital gains tax on investment deals.

negative amigo.. no capital gains and investment income is less than a few hundred bucks... the 50K consists of new york city, new york state, social security and federal taxes... after taking every legal tax deduction I could think of.

 

[d3n]

Originally posted by: Mister T

Originally posted by: d3n

Originally posted by: MacBaine

Originally posted by: Mister T
My fiance and I paid over 50K in taxes

And how large of a salary did that come out of

No salary gets a 50k bill. I'd wager that most all of that capital gains tax on investment deals.

negative amigo.. no capital gains and investment income is less than a few hundred bucks... the 50K consists of new york city, new york state, social security and federal taxes... after taking every legal tax deduction I could think of.

Is this evidence that President Bush has it right, higher income earners are the most heavily taxed and deserve tax breaks?

geh.. Probably shouldn?t have brought that up.

oh well

 

[OREOSpeedwagon]

I put in about $250.. getting about $40 back :|