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-   -   How much would I get back in taxes? (https://www.askmehelpdesk.com/showthread.php?t=431624)

  • Jan 5, 2010, 01:58 AM
    killer240sx
    How much would I get back in taxes?
    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
  • Jan 5, 2010, 10:11 AM
    AtlantaTaxExpert
    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.
  • Jan 5, 2010, 04:38 PM
    MukatA

    You can claim yourself if
    1. you are not living with your parents; or
    2. You provided more than half of your own support.

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