i claimed all of my unemployment benefits, and i want to know if i will get my refund back. i only made $10,000 this year and i recieved $6,000 in unemployment benefits.
2007-01-06 00:29:33 · 4 answers · asked by PEACHES 1 in Business & Finance ➔ Taxes ➔ United States
Your income tax is calculated on your total income. If the tax liability is lower than your withholding then you get a refund. If not, then you owe.
Just receiving unemployment does not bar you from getting a refund but the money is taxable it does through a monkey wrench in to the return.
I ran a quick calcuation. The tax on $16,000 in income for single person with no dependents is $755. If you had more federal tax withheld than this, you will get a refund. If you had less withheld, you will owe.
2007-01-06 01:05:41 · answer #1 · answered by Wayne Z 7 · 2⤊ 0⤋
Your unemployment will not stop a refund if you are due one. Your refund is going to be based on your filing status and withholding only.
2007-01-06 12:39:32 · answer #2 · answered by acmeraven 7 · 0⤊ 0⤋
No
2007-01-06 08:39:34 · answer #3 · answered by caroline j 4 · 0⤊ 0⤋
NO
2007-01-06 09:51:25 · answer #4 · answered by Diaper Delivery Services 3 · 0⤊ 0⤋