The reason I was asking net at the time was the CLI request I happened to be looking at was net income, but I could’ve said it either way. I’ve decided to simply abandon the thought. It would be more of a hassle to explain it if ever asked. But again, to anybody thinking I’m commuting some sort of tax fraud here’s a complete explanation.
On a normal paycheck I pay About $8 week because I claim 4 exemptions on my W4. Overall I paid less than $1000 in federal tax last year. My tax return for federal was around $4000. On my tax return I claimed 1 dependent (child), and I’m a student so I get a credit for that. So I receive a return of approximately $3000 more than I paid in tax, due to these tax credits. My partner does the same, she claims one of the kids, head of household because she made slightly more, and she’s a student. We are not both claiming head of household or lying about any information provided to the IRS. And that $3000 extra each of us were getting was the amount in question. And the tax return changes actually help us more, we get a larger standard deduction and an extra $1000 credit. So that’s not a concern. TurboTax already shows my predicted return. But thanks for all the information.
