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
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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
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.
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