They took $1400 already, if not, about how much will i get back? Im a college student living in MA, single, no dependants, non dependant.
2007-11-13 16:29:26 · 5 answers · asked by Elan M 2 in Business & Finance ➔ Taxes ➔ United States
I do believe that Mass. has state taxes too. but you should get most back.
2007-11-13 16:38:13 · answer #1 · answered by Mr realistic...believer in truth 6 · 0⤊ 1⤋
You won't get all of it back, but your federal income tax will be somewhere around $373 - and that might be reduced by education credits, maybe to zero. You'll get back anything withheld for federal income tax over whatever tax you owe.
If the $1400 is ALL of the tax deductions, including social security and medicare and state tax as well as federal income tax, you won't get much if anything back. Around $955 will go toward medicare and social security.
2007-11-14 23:37:59 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
If you are single and claim your own personal exemption, your standard deduction is $5,350 and your personal exemption is $3,400. You pay no federal income taxes on this income. This leaves you with $3,729 of taxable income.
If you have no credits or deductions, your tax is $373. If you have paid tuition and fees, or paid on a student loan, or contributed to a retirement account, you may be able to reduce or eliminate the $373 of taxes owed.
But in the worst case, if you have had $1,400 of federal income taxes withheld, you should get a federal refund in excess of $1,000.
2007-11-14 11:39:40 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
If that $1,400 includes Social Security and Medicare taxes as well as state taxes you may see a tiny refund.
2007-11-14 06:57:40 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Your federal exemption is $8,750. Your taxable income is $3,729. The tax rate is 10%. The federal tax is $373.
2007-11-14 02:00:55 · answer #5 · answered by MukatA 6 · 1⤊ 1⤋