I got my adjusted gross income equal to $4500. I checked Table 7 of Pub-501 & it says my standard deduction is $5150. In the next line, I am asked to subtract the latter from the former & this gives me a negative value for writing on line 12.
Is that ok, or is there some mistake?
2007-04-14 15:36:39 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The fine print says "not less than zero" or something like that.
-MM
2007-04-14 15:41:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You're in great shape, then! Just enter a zero on line 12 because your standard deduction (I think of it as a deduction for living expenses) covers your income and you won't be taxed on any of it.
For the rest of the form, you should be able to enter zeros instead of negative numbers, and it will probably show a refund of all of your withheld taxes.
I noticed in one of the answers on here that the person suggested you file Form 1040 instead, but the form you are using is the correct one if you are a non-resident alien. Wouldn't want you to have to go back and amend the return.
Congratulations on not having to pay income taxes this year.
2007-04-14 18:24:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Then you don't owe any taxes and any taxes you paid are refunded. Just enter zero for adjusted gross income. You do not get to take a negative credit.
2007-04-14 15:40:02 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I could not care less about their mortal authority, I'll accept it as a sincere curse if I've really crossed the line. If somebody wishes me to " go to hell " in any spiritual sense the only possible answer is ' after you, please ' because they are definitely exceeding their moral authority. And I'm a very polite person and will happily keep the door open for them !.
2016-04-01 02:07:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
this mean you will get a refund--but..you are better to fill out the regular 1040 form-you will get more refund back---it is not hard, just follow the instructions. Also look for the new credits that EVERYONE can get this year, ie-"telephone tax"---guaranteed $30 credit-take your time and figure the numbers right. Tax returns are quite simple if you read the directions. E-mail me with any problems!
2007-04-14 16:16:13 · answer #5 · answered by Anonymous · 1⤊ 1⤋
Consider yourself fortunate in that you don't have to pay taxes. Should be something to the effect subtract this from that, but not less than zero.
2007-04-14 15:45:28 · answer #6 · answered by zeb 4 · 1⤊ 0⤋
If the number is negative, put a zero. And yes, it would have been nice if they had said that, and they should have, but they didn't.
2007-04-14 17:21:19 · answer #7 · answered by Judy 7 · 0⤊ 0⤋