<p>I am currently a coop/intern since September. Before that I worked at another company. All the while I was a full time student. I claimed 1 on my w4. My parents do not claim me as a dependant. Am i entitled to all of my federal withholding money back via a tax return at the end of the year?</p>
<p>You would, if the taxes you end up owing for the year if any, are less than what was withheld. So, yes, file taxes and see what you get back.</p>
<p>It’s impossible to say if you are entitled to all the taxes paid refunded without knowing whether you earned over the non taxable limits for an individual. I believe the 2012 Standard deduction for an individual is $5950 and the personal exemption is $3800. So if you earned less than $9,750, you would probably not have any tax liability. You should certainly file a return to get any taxes refunded. (Of course if you earned more than that you are required to file a return and will likely have a tax liability though may still have overpaid.).</p>
<p>If you have any taxable scholarships, don’t forget to include them in your return.</p>
<p>I earned about 65k this year. Woud I be entitled to the max amount then?</p>
<p>I am filing a return just curious my return should be high because I am a student correct?</p>
<p>If that’s sixty five thousand, you’ll be paying taxes on the money.</p>
<p>My pay they withhold as 1</p>
<p>Should I get a return back at the end of the year though because I am a student</p>
<p>“Am i entitled to all of my federal withholding money back via a tax return at the end of the year?”</p>
<p>No…not at that income level. No special considerations because you are a student…</p>
<p>Was the entire $65k from the internship/coop job? If so, enough should have been withheld for you to get a small refund. If you also had interest or other unearned income or other jobs where you only worked a few hours a pay period so that nothing was withheld, you may owe additional taxes. Being a student isn’t going to shield you from paying the taxes owed on the amount of your income.</p>
<p>You earned $65,000? Then you certainly will have a large tax liability and obviously would not get all the taxes witheld refunded . Or do you mean $6,500?</p>
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Your being a student is irrelevant (except for any education tax credits you may be eligible for). Taxes are based on your income.</p>
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Is there a question here? That would be the correct withholding assuming you are single with no dependents.</p>
<p>I know I have a tax liability however it is taken out of my pay everyweek as single 1. I am a student so I can write off books and tuition and interest on loans. I was under the assumption however that since it is a coop it would count as educational money and the federal withholding money that was taken out of my pay every week would be returned to me via a tax return. Maybe I a wrong.</p>
<p>I also read this [What’s</a> the tax damage for a student summer intern? - internship taxes | Ask MetaFilter](<a href=“http://ask.metafilter.com/64627/Whats-the-tax-damage-for-a-student-summer-intern]What’s”>What's the tax damage for a student summer intern? - internship taxes | Ask MetaFilter) not sure if it is correct</p>
<p>You are right that you can claim tuition/books etc. that weren’t covered by scholarships/grants or paid for with 529/coverdell earnings on your return. That will help. There is no such thing as ‘educational money’ that isn’t taxed. All you can do is do your return and see what happens. Is the number really $65,000?</p>
<p>The link you gave is saying pretty much what we’re saying and I don’t see anything about ‘educational money’ there. I think that student likely made a lot less than $65,000. If you had made less than your exemption plus your standard deduction, then yes, you likely would get all or much of the withholding back depending on any other income.</p>
<p>The point of setting your exemptions to 1 on the w4 is to tell the company what table to use to figure out your withholding. Being a student has nothing to do with your taxes, other than possibly making you a dependent on your parents’ return. Since you earned $65,000 you probably provided more than half of your own support, so you are independent for tax purposes.</p>
<p>The amount you will get back is based on what was withheld minus your tax liability. Your taxable income is about $55,000 so as a single, your tax liability will be around $10,000. As a full time student (assuming you are an undergrad, and have not already claimed the hope or AOC 4 times already), you should be eligible for the American Opportunity Credit of $2,500 which will reduce your libility to about $7,500.</p>
<p>I you had more than that withhheld, you will get a refund. If they withheld less than that (unlikely) you will still owe more taxes.</p>
<p>What you may be confused about is that many students get a full refund each year - not because they are students, but because they don’t earn enough to owe taxes. Students who know they won’t owe anything can select the box that says not to withhold, but could cause trouble for themselves if they do end up owing.</p>
<p>If you had worked for a single company, I would estimate a refund of about $2,500 (the AOC amount) because the withholding should be pretty close. Because you had two different jobs, it’s harder to guess. You’ll have to do the math yourself.</p>
<p>I am a graduate student and I make 1400 a week gross and 245 dollars is helf of federal tax. I declared as +1 on w4. I am going to hire an accountant this year because I have 3 w2’s from 3 different places. My current job is a coop/intern position. Thank you for your help. Can I write off gas as a work/travel expense? I spend almost 400 a month on gas.</p>
<p>I’d buy some tax software (<$20…or even possibly free online). Just plug in the numbers…most have an interview and you just answer the questions.</p>
<p>This sounds like a basic/simple return…hate to see you hire someone for this.</p>
<p>Maybe try the software? Not a big loss if it doesn’t help you…</p>
<p>No, spending for gas to get to work is something everyone does. Yes, some spend more than others. You can’t write it off. If you use your vehicle for work like as a salesman or to job sites as an engineer for example and the company doesn’t reimburse you for that, then you may be able to.</p>
<p>Having 3 W-2s doesn’t particulary complicate taxes. A tax program can easily handle that, is much cheaper than an accountant and in going through it you will learn much more about how taxes work than just dropping off documentation at an accountant’s office.</p>
<p>Yours should be simple return. If you can’t figure it out yourself, using software, you don’t need an accountant. They charge way too much, and you don’t need their expertise (and unless you hire the right one, their expertise won’t fit your particular situation anyway).</p>
<p>You cannot write off gas as a work/travel expense unless you drove that car FOR work, not too and from work. If you did drive your car as part of your employment, you would most likely be better of claiming mileage rather than actual expenses. But to do either you need documentation - total mileage driven for the year, total driven for the job, gas and other expenses for the year, so you can prorate those expenses. You may be able to claim some mileage if you drove from work to school in the evenings, but otherwise commuting expenses are job expenses. That’s where a good tax preparer (expert specifically in taxes as opposed to an accountant who is an expert in finances) may be able to help you - but probably not enough reduce your taxes enough to pay the fees.</p>
<p>Since you are a grad student, you won’t be eligible for AOC - that’s only undergraduates. That means your tax due should be pretty close to what was withheld. I’m not sure what you man regarding your actual withholding - look at your final paystubs, and they should break down year to date withholding - federal, state, Social Security and Medicare. Did you have state taxes withheld? Were all the jobs in the same state?</p>
<p>Yes taxes were withheld from the state. I also pay for health insurance every month I hear that can be written off as well.</p>