Ask Experts Questions for FREE Help!
Ask    ||    Answer
 
Advanced  
 

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now
3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Money & Services > Taxes   »   Refund larger than Tax Paid?

 
Thread Tools Search this Thread Display Modes
Question
 
 
#1  
Old Mar 28, 2009, 09:11 PM
zozojohn
New Member
zozojohn is offline
 
Join Date: Mar 2009
Posts: 1
zozojohn See this member's comment history on his/her Profile page.
Refund larger than Tax Paid?

Here is my background:
1. Came to Atlanta on Oct.1 2008 as H1B.
2. My Wife came with me as H4 at same time.
3. We have a baby in Dec 2008.

I want to use the First Year Choice
1.File 4868 for Federal Extension and IT303 for GA State Extension
2. Wait until June to File 1040 for Federal Tax Return and Form 500 for GA Tax Return.

When I use the Software to file my forms. The refund is larger than tax I paid. My Question is
1. Can I get Recovery Rebate Credit? The Software gave me the Number $900.
2. Line 40 : Itemized deductions (from Schedule A) or your standard deduction (see left margin. Can I file $10900?
3. Line 42, Exemptions, Can I file 3* $3500?
4. For my child, I file $1000 child tax credit.

If all items are right, then the refund would be larger than the tax I paid. This is the first time I fill in the form, Is there anything missing ?

Tax Services are welcome.

Reply With Quote
 
     

Answers
 
 
Old May 18, 2009, 02:19 PM   #2  
Senior Tax Expert
AtlantaTaxExpert is offline
 
Join Date: Feb 2005
Location: Atlanta, Georgia
Posts: 13,323
AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.AtlantaTaxExpert See this member's comment history on his/her Profile page.
1) You are NOT eligible for the RCC due to your wife's ITIN.

2) $10,900 standard deduction.

3) Yes.

4) Yes.

If you have not yet filed and need professional help, contact me at [email address].
  Reply With Quote
 
     
 
 
Old May 19, 2009, 04:13 AM   #3  
Tax Expert
MukatA is offline
 
Join Date: Nov 2007
Location: CA
Posts: 4,641
MukatA See this member's comment history on his/her Profile page.
You must send W7 (ITIN application) for your spouse with your tax return.
The child was born in the U.S. so you will get SSN and you can claim the child as dependent on your 2008 tax return.
  Reply With Quote
 
     

Your Answer
Email me when someone replies to my answer
Join Login





Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

 
Similar Sponsors


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Similar Threads
refund for mortgage interest paid
(1 replies)
Live in NJ Paid NY State Tax - Law for Refund from NY
(1 replies)
MI taxes paid mistakenly; how do I receive refund?
(3 replies)
Tax paid on US income in India, can I claim refund in the US?
(3 replies)
Can I get any refund if I file since I paid for college books but didn't work?
(2 replies)

Search this Thread

Advanced Search

Bookmarks

Sponsors



Copyright ©2003 - 2009, Ask Me Help Desk.
All times are GMT -8. The time now is 11:50 PM.