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Just wondering if anyone knows a roundabout estimate of what I will get back from Uncle Sam if I made roughly 37000 and I have one child. Took roughly 4200 from me. Not itemizing anything .

2007-03-11 17:26:27 · 2 answers · asked by Anonymous in Business & Finance Taxes United States

2 answers

If you live with and maintain a home for your child, then:

Income: $37,000
Standard deduction: $7,550
Exemptions: $6,600
Taxable Income: $22,850
Tax: $1,854 (after $1,000 Child Tax Credit and $40 phone credit)

Refund: About $2,350.

2007-03-11 17:39:11 · answer #1 · answered by ninasgramma 7 · 1 0

You made 37k and only paid 4200 in fed taxes!!!! Your return will be next to nothing and you may even owe even with the child deduction.

2007-03-12 00:35:17 · answer #2 · answered by Anonymous · 0 2

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