The Tax Preparation Blog

Posts Tagged ‘calculator’

Question: Is my tax return really gonna be this big?

I have claimed 0 all year and am a student supporting myself so now i am going to claim one at tax time.

according to H & R’s tax estimator http://www.hrblock.com/taxes/tax_calculators/index.html i will get like 4000 dollars.

is that even possible?

ps ive only had maybe 1500 held and made like 13000
ps i am claiming myself as a dependent student, which equals a 1, is that legal?
i am a dependent student SUPPORTING MYSELF i dont live with mommy and daddy i have beeen working all year and have money owed to me by the government. question is if their estimate is right

Answer: You’ve fat-fingered something. I come up with $1,075 using the numbers you gave.

When you are on the site, the number of dependents is 0, not 1. If you put 1 in on the calculator it probably thinks that you are claiming a child and are eligible for the EIC. This isn’t true in your case. Re-run the numbers with 0 dependents and see what you come up with. The site automatically gives you your personal exemption, you don’t list yourself as a “dependent.”

Addendum: If you cannot be claimed as a dependent by your parents you get your personal exemption. Unless you have a child that lived with you for more than half of the year or are supporting someone else who lived in your household all year (among other requirements) you have NO dependents. Your personal exemption is NOT a “dependent” on your tax return!

You are NOT a “dependent student” from what you say. If you were, your parents would be claiming you and you would lose your personal exemption as a result.

Online federal benefits calculators

– Federal retirement: http://www.opm.gov/retire/tools/calculators/ballpark/menu.asp United States – Units of Measurement – Employment – Calculator – Government