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kushal2020
New Member

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

 
3 Replies
mesquitebean
Level 15

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/

mesquitebean
Level 15

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..

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