Tax quesition?

Question

My husband is claiming me this year on his taxes. Does anyone know how much he will get back from me? I heard it was like 3,000.00

I'm a stay at home wife with no income.

The woman last year that done his taxes said that when we are married and I'm not working, he will recieve 3,000.00 I don't know how. It would be nice but how would they do that?

Answer 1

There's a misunderstanding somewhere, or a few of them.

A spouse can't be claimed as a dependent. But you can, and should, file a joint return. That doesn't mean that you both have taxable income - all the income shown can be earned by one person. But you get lower taxes by filing joint.

His only other choice from a joint return would be married filing separately, which is pretty much guaranteed to cost you extra in taxes. If someone is preparing your taxes and showing a filing status of anything other than joint or married filing separately, go to someone else to help with your taxes, since that person is preparing an illegal return.

In any case, the return would show an exemption for you and for him. The exemption amount this year is $3300 - last year was $3200, and it goes up a little pretty much every year. That doesn't mean that anyone gets $3300 back, it means that for each exemption the filer has, $3300 of the filers income doesn't get taxed, so for most people is a savings of around $500 to $800 in taxes.

Answer 2

You mean you two are filing a joint return, I'm assuming.

And that you have no income?

Each personal exemption is worth $3300 deducted off of income. The dollar amount of savings will depend on the tax bracket you're in. If it's 15% tax, then the savings will be around $500. If it's a 28% tax bracket, it'll be worth over $900.

However - don't think for a second that he "owes" you any of the money he saves from you two filing jointly - if you have no income - that means he supports you. An I garantee that what he shells out to support you is a lot more than any tax savings he gets from you being on his tax return.

Answer 3

Your husband can't "claim" you on his taxes. You can file a joint return with him and you'll get 2 personal exemptions and a larger standard deduction. That will save you money in most cases.

He won't "get" anything "back" from you. The value of a personal exemption depends upon your tax bracket. An exemption reduces your taxable income by $3,300.00 for 2006. That can reduce your tax anywhere from $330.00 to $1,155.00 depending upon your tax bracket.

He won't "recieve" $3,000. As I explained above, if you file a joint return, you get to claim 2 personal exemptions. Exemptions reduce your taxable income. For tax year 2006, exemptions are each worth a $3,300 reduction in taxable income.

Someone misunderstood what the tax preparer said last year, that's all. The above response answers your question.

Answer 4

bostonian is right. Your husband cannot claim you as a dependent. He can claim an exemption for you which is $3300 that he can deduct from his income but that is not a refundable amount.