Business Starting Grants

I have 4 child dependents I have big deductions for business startup. Both my husband and I worked and only p?

have four young children. I have big deductions for business startup. Both my husband and I worked and only put in fed tax $6,000. Turbotax is saying we get back $12,000 @. This does not seem right !!! I did not know the gov gave out money for your children?

Public Comments

1. EIC can be up to $5000. Additional Child tax credit can be up to $4000. Your withholding was $6000. So yes, it is possible.
2. How much did you make for the year? Sounds like you're getting EIC and an Additional Child Tax Credit, plus some of the $6000 back. Start up expenses are very limited for deduction the first year, most must be amortized. Are you sure you did that right?