Any tax guys that can help?????

Discussion in 'Money Talk$' started by zrs6v4, Feb 4, 2009.

  1. zrs6v4

    zrs6v4
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    Im am a full time student, 23 yrs old, working part time in MO. I had my taxes done but I am not 100% at peace with the situation..

    -I made $10,800(W2) from work and payed in roughly $700 in taxes
    -Im independant
    -had a $900 UMSL college tax slip (how much i paid)
    -Had a $5,000 MOBAP college tax slip (I paid in cash)
    -Had $900 recorded tithing slip (obviously paid cash)

    I am trying to see the reason my school or church tithing could not have been used as deductions or for extra cash back?

    I ended up getting $490 federal and $150 state.... basically all I payed back..

    Is the $6,800 I payed in cash (schools+ church) useless for deductions or can I get more back?

    I was going to put it all toward my mission trip this summer, I am happy with what I got but I just want to make sure my tax lady didnt make any mistakes.

    Thanks
     
    #1 zrs6v4, Feb 4, 2009
    Last edited by a moderator: Feb 4, 2009
  2. ccrobinson

    ccrobinson
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    Just for fun, I did a run through Turbo Tax using the information you provided. I'm assuming the college tax slip you mentioned shows how much you paid in education expenses. Did you receive Form 1098-T for those expense? If so, you may be able to deduct the full amount of those expenses and you may be able to get more than $490 back from the IRS. You may want to do some more investigation into this.
     
  3. zrs6v4

    zrs6v4
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    Awesome thanks.
    I believe they are 1098T forms and yes they are all expenses paid. I went to 2 seperate schools last year also. How can I learn more into this? Im not sure what to do to be honest...
     
  4. matt wade

    matt wade
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    Go run the info through turbo tax online. You don't have to pay anything until you actually want to file. You'll be able to see how much money it could get you back.
     
  5. zrs6v4

    zrs6v4
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    What I have been told is that due to only paying in $700 and already getting it all back, I cannot get any additional deductions for more than I payed.
     
  6. SaggyWoman

    SaggyWoman
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    You are too young for the EITC.

    If you had put money in retirement, because you are a FT student, you would'nt get a tax credit for retirement savings.

    Do you have any children or other dependents?

    Do you own your own house?
     
  7. TomVols

    TomVols
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    You can do it at taxact.com, too.

    Typically, you can't get back more than what you paid in. Just doesn't work that way.
     

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