how much is my refund going to be? I used Hr blocks estimator and got $ back, but on other calcs I did not?
wages were 50,871 (6697 tax withheld), 11755 (195 withheld), 2974 unemployment compensation (0 withheld). We have 1 child that is 8. We paid 5055 in mortgage interest. 4044 in medical, 650 in vehicle tax, 182 in real estate tax, home improvement 2556, and job expenses were 4125. Do I owe or not? I’m freaking out! I’m also in college and my 1098 says 20856 in billed tuition. My husband is a firefighter and we usually get a credit for that, and I should get a credit for my college.
Medical expenses won’t count – they are under the 7.5% limit. When you say $650 vehicle tax, are you talking about sales tax on a purchase? Home improvement amounts don’t count unless they qualify for the residential energy credit, and you don’t specify that. Billed tuition, or PAID tuition?
It doesn’t look like you’d probably have enough to itemize. That would give you a tax of $5926 – $1000 for the child tax credit, so $4926. So even without an education credit, which you probably do have coming, you’d still have a substantial refund coming. The numbers are a little rough, but I don’t see how you’d owe.
How to Estimate the Cost of a Kitchen Remodel