0
don't know . it is actually based on your AGI
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What are the qualifications for a federal tax refund?
You qualify for a federal tax refund if you have reached the tax reporting threshold and filed for income taxes. The tax reporting threshold varies depending on your age and marital status.
How much will you owe in taxes if you made 56000 and single with one dependent?
Assuming that your dependent lives with you and is under age 17, and that you do not itemize: Adjusted gross income 56,000 -Exemptions (2) 7,000 -Standard deduction 8,000 (Head of Household) Taxable income 41,000 Tax 5,578 -Child tax credit 1,000 Total tax 4,578
How long can you claim a child as a dependent on your taxes?
You can claim a child as long as the child does not file a joint return with a spouse (except for the sole purpose of claiming a refund) and the child meets the tests for a "qualifying child" or "qualifying relative" as detailed starting on page 11 of Publication 501: http://www.irs.gov/pub/irs-pdf/p501.pdf In the year a child reaches age 19 (or age 24 if a full time student), the child is no longer a "qualifying child" (unless completely and totally disabled) but might still be a "qualifying relative." The requirements to be a qualifying relative are much harder to meet than the qualifying child requirements.
Should a 17-year-old student who lives at home file taxes on his own or with his parents?
Under tax law, as a student living at home, you are your parents' dependent for income tax purposes regardless of your income. Therefore, you are their dependent and they will get that exemption. You, however, can file your tax return and, assuming you have earned income (from a job) that you had income taxes withheld on, you will receive a refund. If you made less than the standard deduction for a single person, you will get all of your taxes withheld refunded to you. You must file a return if you had over just the minimum amount of income, regardless of your age. Read the discussions on that topic - who must file - here or at IRS.gov. Regardless of it you must, generally, especially if you have a very small income, even if it isn't required for you to file, it will be beneficial, so you should. (And obviously if you worked and received a W-2 so you had tax or such withheld, you want to file to get the refund!) If you are claimed as a dependent by someone else, you cannot claim the exemption for yourself too. And in fact, then the others (who presumably have a higher tax bracket than you), will probably have to pay (or you would have to pay) at the higher bracket.
If your son over the age of 25 is still living at home and going to college can you claim him as a dependent relative and claim the education credit?
no up until 24
How much is Linden table clock worth?
The value of a Linden table clock is dependent on several factors. Factors that determine its worth are the model, its age, and its condition.
Do you have to be a certain age to take something back to a shop for a refund?
As long as you were an able age to buy that product you can refund it.
How much is your music box worth?
The exact value of an antique photo album music box would actually be dependent upon a number of factors. Some of these factors would be the maker, age and condition of the box.
How much was Steve Jobs worth at the age of 23?
Steve Jobs at the age of 23 was worth 2.5 trillion dollars.
How much is a denarii worth?
It depends on its age and condition. They are worth from $15.00 to $100.00 + on ebay.
How much is a Remington 31l worth?
depends on the age and quality
How much is the wii balance board worth?
At this day in age, 2013, its probably worth $40.
How much are black vampire katanas worth?
How much black vampire katanas are worth depends on the age and the condition. Some are worth upwards of 1,000 dollars.
How much is a colt 25 worth?
depends on condition and age. age depends on serial number
How much does a alien weigh?
You'll have to specify which alien as there are several different types and all have an age dependent gradient.
How much is a 1951 nickel worth?
Despite its age, a 1951 nickel is still worth 5 cents.
How much is phora the rapper worth?
Phora is a rapper from Anaheim, CA. he began rapping at the age of 7. It is not known how much Phora is worth.
