killer240sx
Jan 5, 2010, 01:58 AM
This year I made 8,951.86 PAID 207.59 to state of AZ 783.33 TO federal. I am only 18 and claim myself.Any help would be great thank you
AtlantaTaxExpert
Jan 5, 2010, 10:11 AM
Okay, let's do the math:
For IRS:
Income: $8,952
Personal exemption: $3,600
Standard Deduction: $5,700
The combination of your personal exemption and standard deduction will COMPLETELY offset your gross income, so your refund will be $783.33.
For Arizona:
Income: $8,952
Personal exemption: $2,100
Standard Deduction: $4,521
Your taxable income is $2,331, which is taxed at 2.59%. You will owe $60.39, so your Arizona refund should be 147.20.
However, if your parents CAN claim you (allowed if you are a full-time student for at least five months in 2009), it may make more sense to LET THEM claim you on their tax return, because your personal exemption is worth MORE to them tax-wise than to you.
So, before you file your return, coordinate it with your parents.
MukatA
Jan 5, 2010, 04:38 PM
You can claim yourself if
1. you are not living with your parents; or
2. You provided more than half of your own support.