i have a question about what i will get back in taxes?

Question

well i am 17 and i have made over $4,500 this year i would like to know what i will get back, also my mom doesnt work so can i claim myself as my own dependant since no one else can, because if i cant i will only get like 120 dollars back and that just sucks!!!!!!

Answer 1

If you made under $5150 and don't have any other income, you should get back whatever you had withheld for federal income tax, and would get that amount back whether you are claimed as a dependent or not. If you are coming up with different numbers based on whether you're claimed as a dependent or not with income around $4500, then recheck your numbers, something is wrong. It should be the same.

At 17, you can't claim the earned income credit unless you have a dependent child - you have to be 25. I assume you don't have a child, since you didn't mention having one. That's about the only thing that would give you additional money if you're not a dependent compared to if you are. If you're thinking you can get EIC if you're not a dependent, that could be why you're coming up with different numbers. You can't, you're not old enough.

Answer 2

You will likely get back any taxes that you've paid for Federal. The standard deduction is $5,150 and the personal exemption is $3,300, which means you would have had to earn $8,450 to owe taxes at the end of the year. You'll still have to pay Social Security, but check your final 2006 paystub to see how much you paid in Federal taxes... that's what you're getting back.

What you get back from the state depends on the state rules, but will probably be most everything as well.

Answer 3

It all depends on how much you paid in. Making only $4500 will probably mean that you get all your federal taxes paid back.

Answer 4

Go to irs.gov and get form 1040-EZ and instructions and fill it out.

I suspect you'll get back all the taxes withheld.