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How much tax do I get back if I am 17?


So I am 17 years old, I go to high school as a senior. Currently living with both my parents. They support me 100% I made 5216.70 this year before taxes. My earnings statement (tax section) saids:

Social Secuirty tax - 323.44
Medicare Tax - 75.64
Oregon Wbf Tax - 9.26
Federal Income Tax - 15.47
OR State Income Tax - 34.70

So my question is how much tax do I get in return? Thanks in advance.

Edit: I tried tax calculators like the HR block one, It saids I get back 415 which doesn't seem right because it saids I qualify for some sort of credit for 400 dollars.

Youll prob get back all of your state and mos of your federal. Or is it vice versa?? Hmm. But im assuming what you have listed above cant be total for the year for your 5000 dollar earnings because if so you must have been filing a high number all year which means theyve been taking out less taxes on you which means youll get less back.

There are some tax calculator sites on the net. MSN had one I know. Try using them.

I would estimate around $2500.

I'm guessing you'll get all of it back, since you made so little money. You'll find out for sure when you fill out your tax return. You can actually start on that now if you want. The forms are free for download on the web.

Can't tell you what would be best. You need to talk with a twx person as to how to best file whether dependent or individual. If my experience has anything to say it is you will owe 10 times as much as will be heavily penalized for even working. IRS is for themselves only and rules are written to take money from the taxpayer so they can support deadbeats and democrats.

If your parents claim you as an exemption, you cannot also claim yourself. You would only get the standard deduction of $5350. Since your earnings are less than the standard deduction, you should apply for a refund of your $15.47 in federal taxes. Fill out form 1040-EZ or 1040-A. You may even qualify for free electronic filing.

You screwed up dude. Unless you got a few decimal points in the wrong spots, you might have to pay in on your federal and state taxes. By the time I made 5000 this year, i had already paid in 688 to federal.

By the way, being 17 years old, you're never going to see a penny of that social security or medicare money back.

You filled out the estimator wrong.

You managed to tell it that you were both INdependent and the age of 25 because that's what you'd have to be to qualify for $400 of EIC. Without that, you get $15 for federal which is correct.

And hint, given your track record, do not file electronically until after your parents file.

When you file your tax return, make sure that you don't claim your own exemption. You status is Single dependent. Your parents can claim your exemption.
Your standard deduction is $5,350 that is there is no taxable income.
You will get back you entire Federal Income tax of $15.47.
You may get back some amount from your state income tax of $34.70.

May be HR Block person was taking about Earned Income Credit. For that you must be 25 if you are Single.
That is all you will get back. You won't get back social security tax, medicare tax, Oregon Wbf Tax.

Unless you messed up entering the numbers, you will only get back $15.47 in Federal tax.

Since you made under $5350, you'll get back your $15.47 that was withheld for federal, and maybe some or all of the $34.70 for OR state income tax. You'll have to file tax returns to get the money refunded to you.

Forget the credit - you aren't eligible for it. Whatever calculator you are using is showing the earned income credit - unless you have a qualifying child, which I hope you don't at 17, you aren't eligible for that, you'd have to be 25 or older to get that - maybe the calculator you used didn't ask for your age. Since your parents can claim you as a dependent, you wouldn't be eligible for it even if you DID have a child.

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