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So I'm guessing Turbotax.com is the best FREE route?
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Anyway to estimate how much of that I'd be getting back. I paid $1,100 on interest last year.Originally Posted by DublBagn
^^^^you should have gotten back a 1098 form ( i think thats right) from your lender telling you how much interest you paid towards your student loans....that amount is deductible from your taxable income....
just change the number of exemptions on your W-2 at your place of employment......but remember, the governemnt does not track on a weekly basis how much you make. So if you make 1500 one week, they are going to tax that like you make that every week, when in fact you really only make 500 on a normal week..thats why its hard to "break exactly even" on your pay check...Originally Posted by The Genesis
Finished up and E-Filed my Federal taxes using Turbo Tax 2010 Free edition yesterday afternoon
Now im just waiting for the IRS to approve my return
Question tho, how do i go about changing my allowances or whatever so that they take out less taxes on my pay this year and so that i can break even (or come close to doing so) on my taxes next year?
the interest you paid (or deductinos you take for that matter) does not directly equal the amount of refund you get. Depending on how much you make, you have a certain tax liability. The only thing you deductions do is decrease the amount of taxable income you can be taxed on...Originally Posted by 651akathePaul
Anyway to estimate how much of that I'd be getting back. I paid $1,100 on interest last year.Originally Posted by DublBagn
^^^^you should have gotten back a 1098 form ( i think thats right) from your lender telling you how much interest you paid towards your student loans....that amount is deductible from your taxable income....
Originally Posted by 651akathePaul
I only just started working so my earned income for the year is around 15k at the most. the total amount of federal income tax i paid was around $900.
Yeah, that's what I was figuring. Thanks for the help.Originally Posted by DublBagn
Originally Posted by 651akathePaul
I only just started working so my earned income for the year is around 15k at the most. the total amount of federal income tax i paid was around $900.
if I had to guess....with a rough estimate I would say you are getting the whole $900 back....plus maybe a few state dollars......the only thing you dont ever have an opportunity to get back (as I have said in one of past posts) is Medicare tax and Social security tax.....
Originally Posted by DublBagn
Originally Posted by 651akathePaul
I only just started working so my earned income for the year is around 15k at the most. the total amount of federal income tax i paid was around $900.
if I had to guess....with a rough estimate I would say you are getting the whole $900 back.....depending on your age and if someone else is claiming you as a dependent you might only get 450 back....plus maybe a few state dollars......the only thing you dont ever have an opportunity to get back (as I have said in one of past posts) is Medicare tax and Social security tax.....
A. If you are a long-time resident and owner of the same main home and you buy a new home, the law may allow you to claim the homebuyer credit. You must buy your new home after Nov. 6, 2009, and before May 1, 2010. Alternatively, if you sign a binding contract on or before April 30, 2010, you must purchase or close on the new home on or before June 30, 2010. If you claim the credit as a long-time resident of the same main home, please provide documentation showing you lived in that home for a five-consecutive-year period during the eight years ending on the date you buy the new home. (1/26/10)
so,it's onlyfor half the year?