Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
judyv0706
New Member

My refund went down by $500.00 after posting $2000.00 of gambling interest? Why so much of a change of refund?

 
1 Best answer

Accepted Solutions
IsabellaG
Expert Alumni

My refund went down by $500.00 after posting $2000.00 of gambling interest? Why so much of a change of refund?

If your income is between $37,950 to $91,900, any income that you add to your return is taxed at 25%.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
IsabellaG
Expert Alumni

My refund went down by $500.00 after posting $2000.00 of gambling interest? Why so much of a change of refund?

If your income is between $37,950 to $91,900, any income that you add to your return is taxed at 25%.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v