Skip to main content
Level 1
January 17, 2023
Question

I made 50,000 this year, and they only took out 7500 thousand. I claimed 1 child on my W-4, will I owe money??

  • January 17, 2023
  • 2 replies
  • 23 views
Single, HH

2 replies

Level 15
January 17, 2023

You can use Taxcaster on the Turbotax site to estimate what your taxes will be.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

fanfare
Level 15
January 17, 2023

you won't owe any money because your withholding was so high.

$7,500? you should submit a new W-4 to lower that.

 

P.S.

The tax software is available now so you can start your tax return.

 

@JonnyDronenberg