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View Full Version : What do I use ti calculate my return


nicole9681
Nov 26, 2007, 09:29 AM
How do I and what do I use to calculate how much I will be getting back from claimimg my son? It is only an individual tax return. So I was wondering how I would have to calculate what I would be getting back off just him? Not all together. I know What I will be getting back from what I have put in. I will be getting taxes back, not owing. So, how do they calculate and know what to do to figure it out:rolleyes: ?

AtlantaTaxExpert
Nov 27, 2007, 07:09 PM
Depends on your marginal tax rate.

That the tax rate you pay on the last dollar you earn in the year.

MukatA
Nov 28, 2007, 05:41 AM
You may be eligible for Head of Household status (if you are Single), which means deduction increases by $2,500. You get a exemption for your child, which means deduction increases by $3,400. So your taxable income decreases by $5,900.
Then your EIC will increase. Then you can get Child Tax Credit or Additional Child Tax Credit.

AtlantaTaxExpert
Nov 29, 2007, 10:16 AM
MukatA makes some good points.