How much should I expect on my Tax return?

How much should i expect on my tax return?

  • I claim head of household. I am 21 i will have made 12000 by the end of the year. I have two dependents my son and my little sister ... They both live with me and only me... My sister recieves ssi 700 a month. How much should i expect to get back on my return next year... Just curious

  • Answer:

    You probalby cannot claim your sister as a dependent. She very likely provides too much of her own support. You can claim your child though. With that in mind you'll receive a refund of any federal income tax that was withheld, plus $1,000 from the Additional Child Tax Credit, plus a little over $3,050 from the EIC.

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Listen to Bash, do NOT listen to acme. Your sister's $700/month SSI *does* come into play for the calculation of total support. Odds are, you cannot claim her as a dependent even though she technically has no income for tax purposes. See IRS publication 501 for the support test worksheet. Support includes your sister's share of housing and food. 1/3rd is hers, 1/3rd is your son's and 1/3rd is yours. Since your income was only $12,000 and hers was $8400, the odds are you did not spend $701 a month on your sister out of your own funds--because if you did, that leaves $299 for you and your son. The IRS wouldn't believe it. (Besides at 21, it's not like you have $50,000 in savings.) PS, I also doubt you meet the tests to claim head of household. If you are unmarried, use single on the forms. If married, you must use MFS (and would be barred from claiming EIC).

Head of household with 2 dependents; no tax liability, $ 4,080 in EIC as your sister's ssi does not enter into the equation, if both children are under age 17 you will also receive up to $ 1,000 in child tax credit; plus any federal income tax that has been withheld from your pay.

And just remember to look at and read the statement that is at the bottom of the page where you sign your completed 1040 income tax return before you print your copy and then send the other signed copy to the correct IRS address for this purpose. Swearing that all of the information that you have entered on your 1040 income tax return is true and correct at that time in your life for this purpose. And that have the good written records to prove that you really did furnish MORE than 50% of your sisters support for the tax year after you used the worksheet that you had available to you for this purpose. Go to the www.irs.gov website and use the search box for 1040ES and then go to page 6 also has the 2011 Tax Rate Schedules and page 7 has the estimated tax worksheet available for your use also. http://www.irs.gov/pub/irs-pdf/f1040es.pdf Copy and paste the below enclosed website address into your browser bar and choose the estimated tax calculator for the 2011 tax year. http://www.dinkytown.net/java/Tax1040.html Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2011. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2012. In 2011, Federal income tax rates were scheduled to increase to pre-2001 levels, but the "Tax Hike Prevention Act of 2010" left the existing tax brackets in place through 2012. Please note that this calculator uses the preliminary 2011 tax tables. Hope that you find the above enclosed information useful. 09/22/2011

Depends on how much you pay in to the system and what your final taxable income is. If they with hold nothing, you would get nothing back, or they with hold a ton, you will get a bunch back.

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