Hi all, tax time is coming soon and I live in Wisconsin and was wondering what I can expect to get back on my taxes if I paid about $11,000 for tuition this year. How much of that do you think i will get back? Any help would be great
2007-11-19 07:16:28 · 2 answers · asked by JustBlah 3 in Business & Finance ➔ Taxes ➔ United States
I worked full time from april 30th to present and before that I worked part time. I only claimed "1" for myself for this job and "0" at the other job.
2007-11-19 07:41:39 · update #1
If you have any tax liability for the year, you can get an education credit that might be up to the total you owe, so you might get everything back that was withheld for federal income tax, or it might be much less. Depends on a lot of things - your total income,marital status, and whether you are in your first two years of post-secondary school or beyond that.
2007-11-19 08:01:59 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Maybe a nice refund.....maybe $0.00.
Education credits are non-refundable which means they can reduce your liability to zero but not below.
How much did you work and how much was withheld?
2007-11-19 15:29:52 · answer #2 · answered by Wayne Z 7 · 1⤊ 0⤋