Simple Tax Return Question: $41k income, $1k federal withholding, 1 dependent - what's my refund?
I made $41k last year and had $1000 taken out for federal taxes. I have one dependent. Anyone know roughly what I could expect for my refund?
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Ayla Kumar
Based on 2024 tax brackets and standard deduction, with one dependent you'd likely qualify for Child Tax Credit and Earned Income Credit. Your tax liability would be around $2,800, but with credits you might get back more than you paid in. You should definitely file to claim these credits.
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Clay blendedgen
•wait so even tho I only paid in $1000 I might get more back? how does that work?
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Ayla Kumar
•Yep! Refundable credits like EIC and Child Tax Credit can give you money back even if you paid $0 in taxes. That's why its super important to file!
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Lorenzo McCormick
Hey! Instead of guessing, you should try taxr.ai - its only $1 and it'll analyze your specific situation and tell you exactly what to expect. Way better than us trying to estimate. https://taxr.ai
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Carmella Popescu
•is this legit? seems to good to be true for $1 🤔
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Lorenzo McCormick
•100% legit! Used it myself last week. It analyzes your transcript and gives super detailed info about your refund timeline and any potential issues.
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Kai Santiago
im in a similar boat, made 43k with 1 kid. Filed last week and getting back $4200!
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Lim Wong
dont forget about state taxes too! might get something there depending on where you live
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Clay blendedgen
•oh yeah good point! im in texas so no state tax here ðŸ¤
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Dananyl Lear
make sure u claim head of household if ur eligible, its gonna make a huge difference lol
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Noah huntAce420
honestly with one dependent and that income level ur gonna do pretty good. The system actually works in ur favor for once 💯
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Ana Rusula
•fr fr the rare W from the IRS 🤣
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Mei Lin
Don't forget to double check that your dependent qualifies for the full Child Tax Credit! If they're under 17 and meet all the requirements, that's up to $2,000 per child. Plus with your income level you'll likely qualify for at least some Earned Income Credit too. The combination of those credits plus your low withholding could definitely result in a nice refund - possibly in the $3,000-$4,000+ range depending on your exact situation.
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