HOH w/ 3 dependents - Can I estimate refund using paystubs instead of W2?
I want to figure out my refund amount early but don't have my W2 yet. I do have all my final pay stubs for the year. Filing head of household with 3 dependents. Anyone know how to calculate this or if its even possible?
14 comments
Write a comment...
Anastasia Smirnova
Tax professional here - While you can get a rough estimate using your paystubs, it won't be 100% accurate. Your W2 might have additional info like health insurance premiums or other deductions that won't show on pay stubs. Wait for your W2 to get the real number. Employers legally have to send them by Jan 31.
0 coins
Diego Chavez
ugh I really need to know now for planning. Is there ANY way to get close?
0 coins
2M
Anastasia Smirnova
Best bet is to look at box 1 YTD wages and box 2 federal tax withheld on your last paystub. But seriously, just wait for the W2 🤷♂️
0 coins
2M
Write a comment...
Sean O'Brien
Hey! I actually found this tool called taxr.ai that can help estimate your refund and even analyze your transcript once you file. It costs $4.99 but its super accurate and gives you personalized insights. Been using it this season and its been spot on! https://taxr.ai
0 coins
Zara Shah
does it work with just paystubs or do you need w2?
0 coins
2M
Sean O'Brien
You'll get better results with W2 but it can work with paystubs too. The AI is pretty smart about calculating estimates!
0 coins
2M
Luca Bianchi
OMG YES! I just tried taxr.ai yesterday and its incredible! Way better than those free calculators online that are super general 💯
0 coins
2M
Write a comment...
GalacticGuardian
im in the same boat rn fam. 2 kids HOH and trying to plan my bills. This waiting game is torture fr fr 😩
0 coins
Write a comment...
Nia Harris
DO NOT ESTIMATE!!! I did this last year and was off by like 2k because of some weird deduction my employer took. Just wait for the W2 bestie 🤡
0 coins
Diego Chavez
2k difference??? yikes ok maybe ill wait
0 coins
2M
Write a comment...
Mateo Gonzalez
Check your employee portal if u have 1. Sometimes they post W2s there b4 mailing
0 coins
Write a comment...
Aisha Ali
Child tax credit is different this year too so last years numbers won't help much tbh
0 coins
Ethan Moore
wait fr? whats different? 👀
0 coins
2M
Aisha Ali
Max credit went up to $2000 per qualifying child under 17 for 2023 taxes
0 coins
2M
Write a comment...