How much taxes do you pay on 7200.00?

Answer 1

If you are filing a federal 1040 tax form as a single taxpayer and NOT a dependent on another taxpayers income tax return. You probably will not OWE any federal income tax and may qualify for some refund amount if you qualify for any of the credits when your 1040 federal income tax return is completed correctly.

You are the only one that has all of the necessary information that will have to be reported on your 1040 FEDERAL income tax return for the year in order to do the calculation for the numbers that you are looking for.

After you complete your 1040 federal income tax return correctly to your TAXABLE INCOME and page 2 lines 43 and Line 44 you will know the amount of your income liability before any credits or other taxes.

Continue from Line 45 to the last lines at the bottom of the 1040 page 2 and then you will know how much taxes you will have to pay if any after you complete your 1040 income tax return correctly.