Estimated tax return or will I owe?
I'm just looking to find out if I will possibly get a tax return or if I will owe money… I have not filed the last 2 years because I have been out of work the entire time cause I have been dealing with some health issues but back in September I donated my car to the Make-A-Wish foundation after it died, so I'm pretty sure I'mr required to file and I don't mind. The value on the car ('95 Honda Accord EX) at the time was approx $430… I just want to prepare myself in case I end up owing money… What are my odds of getting a refund or owing money? Any ideas?
If you haven't worked or drawn unemployment, you have no reason to file.
Your car donation would not change your tax return at all.
Did you have income on a W-2? How much?
What other income do you have?
The donation of the car is NOT INCOME. In fact, if you had enough things to itemize, that donation of the car would become a TAX DEDUCTION.
You owe nothing on the money you got for the donation of the car. You also gain nothing for the donation of the car in terms of a tax refund if you have no other income to claim.
If you have had no other income, there's nothing to file on and there's no refund.
Zero if you had no income in 2015, You aren't required to file, and there's no reason to. The donation does nothing for you.
You do not have to file. Even if you do file, you have no chance of owing and no chance of getting a refund.
If you have no income, you have no need to file. The deduction from the car does nothing for you since you have no income. You get no refund because you had no income.
Nothing
donating the car would require that be reported on the schedule to itemize and since you don't even have an income to report there's no reason to even file let alone that schedule
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