Question

Carmen Reyes worked part-time last year while attending college and earned $4288, and the total withholding taxes she paid were $450. Carmen also earns $78 in interest and $16 in dividends. How much tax refund should she receive?

A) $3844
B) $2844
C) $4806
D) $4344

Answer 1

Without tax brackets or deduction information, we can't calculate Carmen Reyes's exact tax refund. Her total income is $4382, which includes her part-time earnings, interest, and dividends, and she has paid $450 in withholding taxes.

Step-by-step explanation:

To calculate the tax refund Carmen Reyes should receive, we need to consider her earned income, the interest and dividends she received, and the total amount of withholding taxes paid. Her total income would be the sum of her earnings from work, her interest earnings, and her dividend earnings. Then, we need to calculate or estimate her taxes owed based on this total income. However, since we don't have the tax brackets or her deductions, we cannot accurately calculate her taxes owed and therefore can't determine the exact tax refund she would be entitled to receive. Instead, we can only provide her total income and the withholding taxes she paid. Carmen's total income would be the sum of her wages ($4288), interest ($78), and dividends ($16). The withholding taxes paid were $450.

Total Income = Part-time Earnings + Interest + Dividends

Total Income = $4288 (earnings) + $78 (interest) + $16 (dividends) = $4382

Since we don't have the information to calculate the exact tax owed, we can't determine which answer choice (A, B, C, or D) is correct for her tax refund.