Ask Experts Questions for FREE Help !
Ask
    killer240sx's Avatar
    killer240sx Posts: 3, Reputation: 1
    New Member
     
    #1

    Jan 5, 2010, 01:58 AM
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    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's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #3

    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.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Can the IRS keep my back pay for Social Security Disability If I owe back taxes [ 4 Answers ]

I owe back federal taxes of approximately $13,000.00. I have a back payment of approximately $20.000.00 coming from Social Security Disability. How much money will the IRS keep of this money if any, and will they notify me before hand

Back taxes [ 2 Answers ]

Can I take possession of abandon house in Florida if I paid the back taxes

How much taxes will I get back [ 1 Answers ]

I earned 18,303 for the year 2008 they with held 1,874 I am claiming 1 dependent on my taxes how much will I get back

Back taxes [ 1 Answers ]

My husband owes back taxes. If he dies, who will be responsible for the payment. I own a condo, which he has nothing to do with. These taxes back taxes are his alone.

How Much % Of Taxes We Get Back. [ 3 Answers ]

I have two W-2 forms from my Employer one for my OPT period and One for my H-1B. I Want to know how much percentage of taxes I will get back.


View more questions Search