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5 Answers

How much refund will i get?

Asked by: megan 373 views YA Discussion

How much refund (approx) will i get if i made 15K last year, I am single, 25. Federal Income withheld 553, State Income tax around 530..
Thank you in advance,
Bred
state = MD


5 Answers



  1. Ezz on Feb 25, 2012 Reply

    http://turbotax.intuit.com/tax-tools/

    Will give you a pretty close estimate!

    So probably $ 20

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  2. Bostonian In MO on Feb 25, 2012 Reply

    About $ 3 on Federal. $ 15,000 – $ 9,500 (standard deduction and personal exemption) = $ 5,500 taxable income. Tax is $ 550. $ 553 – $ 550 = $ 3 refund.

    No idea on state without knowing which state.

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  3. rtfm on Feb 25, 2012 Reply

    You get to subtract $ 9500 for your personal exemption and standard deduction, so that leaves you with a taxable income of $ 5500. Tax on that is … $ 553.

    Congratulations. You did your withholding exactly right. You don’t owe anything, and you received all of your own money each week in your check instead of giving it to the government to hold for you.

    Can’t say what your state tax might be without knowing what state you’re in.

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  4. tro on Feb 25, 2012 Reply

    nothing, your income tax is right on and you made too much for EIC
    I am not familiar with Md tax rates, $ 530 sounds really high for withheld for the state

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  5. Judy on Feb 25, 2012 Reply

    Probably $ 3 federal, don’t know about state.

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