topic Filing Taxes in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/filing-taxes/01/251#M57 <P>I am a college student and was never taught how to file taxes. Do you always get money back after filing them?</P> Wed, 21 Mar 2018 00:46:44 GMT joyypark 2018-03-21T00:46:44Z Filing Taxes https://ttlc.intuit.com/community/taxes/discussion/filing-taxes/01/251#M57 <P>I am a college student and was never taught how to file taxes. Do you always get money back after filing them?</P> Wed, 21 Mar 2018 00:46:44 GMT https://ttlc.intuit.com/community/taxes/discussion/filing-taxes/01/251#M57 joyypark 2018-03-21T00:46:44Z Re: Filing Taxes https://ttlc.intuit.com/community/taxes/discussion/re-filing-taxes/01/325#M58 <P>Unfortunately, you do not always get taxes back (refund) after filing them.&nbsp; Your tax is figured like this:</P> <P>&nbsp;</P> <UL> <LI>Total of all your income items -&nbsp;some adjustments = adjusted gross income</LI> <LI>Adjusted gross income - your personal exemption. Note: If you are someone's dependent than your exemption is 0.</LI> <LI>Then - your standard/itemized deductions (standard for most people including students) = Taxable Income</LI> <LI>+ some credits and - other taxes if applicable = your total tax owed</LI> <LI>total tax is compared with taxes withheld on your W-2 and other forms</LI> <LI>If too much taxes were withheld, you get a refund. If too little were withheld your owe more taxes.</LI> </UL> <P>&nbsp;</P> Thu, 22 Mar 2018 01:26:22 GMT https://ttlc.intuit.com/community/taxes/discussion/re-filing-taxes/01/325#M58 PaulaM 2018-03-22T01:26:22Z
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topic Filing Taxes in Get your taxes done using TurboTax
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<P>I am a college student and was never taught how to file taxes. Do you always get money back after filing them?</P>
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<P>I am a college student and was never taught how to file taxes. Do you always get money back after filing them?</P>
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<P>Unfortunately, you do not always get taxes back (refund) after filing them.&nbsp; Your tax is figured like this:</P> <P>&nbsp;</P> <UL> <LI>Total of all your income items -&nbsp;some adjustments = adjusted gross income</LI> <LI>Adjusted gross income - your personal exemption. Note: If you are someone's dependent than your exemption is 0.</LI> <LI>Then - your standard/itemized deductions (standard for most people including students) = Taxable Income</LI> <LI>+ some credits and - other taxes if applicable = your total tax owed</LI> <LI>total tax is compared with taxes withheld on your W-2 and other forms</LI> <LI>If too much taxes were withheld, you get a refund. If too little were withheld your owe more taxes.</LI> </UL> <P>&nbsp;</P>
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