Me and my wife had our son last year in march, so this was the first year she was able to claim him in her taxes. We just got married this year so cantt file together.
Anyways, she does her own taxes with the HR block tax software. After she was done it said she was getting $6,000 returned this year. $4,000 for our son alone. This is her first time filing with him and she thought this may be high and she may have done something wrong. Does this sound correct?
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Are We Getting Too Much Money On Our Tax Return?3 comments to Are We Getting Too Much Money On Our Tax Return? |
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how do you know $4000 was for the child?
the personal exemption for a child is $3650, the same as anyone listed on the return
she would have a child credit of $1000 for a child in the household under 17, to apply to the tax liability
she would be eligible for the EIC Credit which is based on one’s earned income with children in the home, this is not rewarding her for the child, it is earned income based
Is she claiming Head of Household status, or maybe the software asked her questions and assigned her that filing status? If she provided over 50% of the support for your family then I guess she would be qualified for that status.
Double check:
Go to TurboTax.com or TaxAct.com
Both sites are free – we used TaxAct this year and it’s easy and accurate.
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