- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I am i minor filing as a dependent, shouldn't i get my federal income tax all back or just part of it. in the 2015 year i received all my federal income tax back.
I am filing under the standard deduction, my Total income is $7478.66. My federal income tax that was withheld is $535.34, Turbo tax said that i will only get $416 back. Previous years i got all my income tax back though.
Topics:
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I am i minor filing as a dependent, shouldn't i get my federal income tax all back or just part of it. in the 2015 year i received all my federal income tax back.
Yep, Your Standard Deduction is $6,300 for single.
So $7,479 - 6,300 = $1,179 Taxable Income
Tax for Single on $1,179 is $119
$536 withholding - 119 for tax = $416 Refund
Here is the IRS tax table, look it up
https://www.irs.gov/pub/irs-pdf/i1040tt.pdf
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I am i minor filing as a dependent, shouldn't i get my federal income tax all back or just part of it. in the 2015 year i received all my federal income tax back.
When you are claimed as a dependent, all you get to reduce your tax is your standard deduction of $6,300. Any income that is over $6,300 is taxable and you will not get all of your withholding back.
Still have questions?
Make a post
Or browse the Forums