turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

How much refund on 42000 annual income without deductions like gas,car rent food and clothing

 
3 Replies

How much refund on 42000 annual income without deductions like gas,car rent food and clothing

There are too many variables for anyone to know that in a user community forum. 

You can try TurboTax free and quick estimator tool called TaxCaster.

 

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

How much refund on 42000 annual income without deductions like gas,car rent food and clothing

You appear to be using Live Self-Employed, which is the most expensive of the Online TurboTax products.  That Live feature allows for on-demand help from a CPA/EA tax expert during return preparation and a review of your return prior to filing.   The fee is $200 for a Federal return and $55 for a state return.  And if you choose to pay the fees out of the Federal refund, there is an additional $40 service fee ($45 for California filers.)

 

Is Live Self-Employed the product you wanted?    If not, that Live component can be removed, if you want regular Self-Employed Edition ($120 for Federal and $50 for state). 

 

FAQ:  What is TurboTax Live?

https://ttlc.intuit.com/community/choosing-a-product/help/what-is-turbotax-live/01/27191

 

FAQ:  How do I remove Live?

https://ttlc.intuit.com/community/downgrading/help/how-do-i-remove-turbotax-live/01/27312

 

 

Hal_Al
Level 15

How much refund on 42000 annual income without deductions like gas,car rent food and clothing

For the most simple case: $42,000 income minus $12,200 standard deduction = $29,800 taxable income. The tax on that, from the tax table is  $3385. If your federal withholding is more than that; the difference will be your refund. 

But for most people, There are too many variables for the simple answer;  such as the type of income, your dependents, filing status, credits, withholding etc..

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies