Expected refund amount for $27.5k income with 5 dependents?
Filed my taxes this year with 5 dependents and made $27,500 total income. Anyone have an idea how much I should expect back? Not sure if I should claim EIC or Child Tax Credit. First time filing with this many dependents.
12 comments
ThunderBolt7
Based on your income and dependents, you likely qualify for both Earned Income Credit (EIC) and Child Tax Credit. For 5 qualifying dependents, you could receive up to $3,000 per child under Child Tax Credit if they're under 17. EIC could be significant too given your income level. But without knowing ages of dependents and other deductions its impossible to give exact numbers.
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Zoe Papadakis
all kids are under 17, two are under 6. what else would you need to know?
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ThunderBolt7
that helps! with 2 under 6 you could get additional credit. def talk to a tax pro tho to maximize everything
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Jamal Edwards
Hey! Instead of guessing, you should try taxr.ai - its this new tool that analyzes your transcript and tells you exactly what credits you qualify for and how much you'll get back. It costs $4.99 but totally worth it. Here's the link: https://taxr.ai
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Mei Chen
is it legit? seems too good to be true 🤔
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Jamal Edwards
100% legit! Used it myself last week. It breaks down everything line by line and explains all the credits you qualify for. Way better than guessing or waiting on hold with IRS for hours 💯
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Liam O'Sullivan
i was in the same boat last year! ended up getting like 12k back between all credits. make sure u file with someone who knows what their doing tho
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Amara Okonkwo
dont forget about state credits too if ur state has them!
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Zoe Papadakis
im in texas, we dont have state tax thank god lol
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Giovanni Marino
with that many dependants and low income you should get a pretty sweet refund ngl 🤑
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Fatima Al-Sayed
make sure all your dependents have valid SSNs and nobody else is claiming them! IRS will delay tf outta your refund if theres any issues with that
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Zoe Papadakis
yep got all their cards right here, nobody else claims them
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