Am I figuring this right?

[ontheway2]

I like to play around with Turbo Tax's tax caster to see how different decisions affect my refund. I'm newly divorced with a different tax picture than the past.
Assuming no fed income tax paid through the year.
Tax caster has been pretty accurate in the past and thinks I'll get around $3300 back.
When I figure my tax liability and available credits, I'm coming up with $4800. Any ideas?

W2 income - $40440
Traditional IRA - 6k
Estimate $150 interest income

~34590 AGI, $1696 tax owed

2 kids under 17
~2300 EITC
4k CTC (only 2800 refundable, $1200 to offset tax liability)
$200 saver's credit

1696-1200-200-2800-2300=$4804 refund

[ontheway2]

Sounds right. Did you have a question about it or just trying to verify?

Thanks. I mainly wanted to make sure I wasn't missing something obvious since my final number is $1500 more than tax caster says

[MDM]

Reading between a few lines, the case study spreadsheet gets:

Filing Status	3	1=S, 2=MFJ, 3=HOH
# Dependents	2
# Children <17	2
# Children for EIC	2
	Adult #1
Age	35
AGI	$34,590
Std. Deduct.	$18,350
Act. Deduct.	$18,350
QBI deduct.	$0
Taxable	$16,240
1040 Tax	$1,672
Saver's credit	$200
Non-refund. CTC	$1,472
Tax after n-r credit	$0
EIC	$1,319
Refundable CTC	$2,528
Net Tax	-$3,847

TaxCaster is a good advertising tool for Intuit, but it often leaves much to be desired as a tax estimator.

[ontheway2]

Reading between a few lines, the case study spreadsheet gets:

Filing Status	3	1=S, 2=MFJ, 3=HOH
# Dependents	2
# Children <17	2
# Children for EIC	2
	Adult #1
Age	35
AGI	$34,590
Std. Deduct.	$18,350
Act. Deduct.	$18,350
QBI deduct.	$0
Taxable	$16,240
1040 Tax	$1,672
Saver's credit	$200
Non-refund. CTC	$1,472
Tax after n-r credit	$0
EIC	$1,319
Refundable CTC	$2,528
Net Tax	-$3,847

TaxCaster is a good advertising tool for Intuit, but it often leaves much to be desired as a tax estimator.

Thanks!