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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
When you are claimed as a dependent, then you do not get a personal exemption and because of that, you pay tax on $4,000 more income than if you were not claimed as a dependent. All you get is your standard deduction, which for a single person is $6,300. So you pay tax on any amount of income that is more than $6,300. There is nothing about your situation that makes you exempt from tax.
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
What was the source of the income? Was any of it reported on a 1099Misc? Are you being claimed as someone's dependent?
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
It was just a part-time job, I have a W-2. I don't even know what a 1099Misc is.
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
Why do you think you are tax exempt? And are you being claimed as someone else's dependent?
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
Yes I am
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
Please answer the questions you are being asked if you want help.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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I made less than $10,000 last year but instead of receiving all my withheld taxes back in my refund I am being told I owe even more taxes. I thought I was tax exempt?
When you are claimed as a dependent, then you do not get a personal exemption and because of that, you pay tax on $4,000 more income than if you were not claimed as a dependent. All you get is your standard deduction, which for a single person is $6,300. So you pay tax on any amount of income that is more than $6,300. There is nothing about your situation that makes you exempt from tax.
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