PDA

View Full Version : Tax for the taxable amount that in access of $5250 tuition remission


flymanansh
Feb 17, 2013, 09:46 PM
Say the total tuition is $10250,so the taxable amount is $5000. The fedeal and state taxes have been withheld for this $5000. I was wondering if the taxes for the $5000 is refundable or can I claim any credit for tax return?
Thanks

AtlantaTaxExpert
Feb 17, 2013, 09:51 PM
Yes, it is probably refundable, because you can claim a $3,800 personal exemption and a $5,950 standard deduction.

I suspect both the withheld federal and state taxes should be refunded to you.