CONFESS!!!!!! How much was your first tax refund and what did you buy???

[LynneSin]

In honor of LESS than one month until tax day, let's talk about the very first income tax refund you've ever received. How much did you get back and how did you spend it???

Me - I was $56 (was a fast food employee) and I bought a fancy scientific calculator (which I lost 2 years later).

What did you do with yours??

:D

[commander bunnypants]

1. Many years ago as a cook at Shoneys

1/4 pound of weed

DDQM

[KuroKensaki]

2. Mine is this year!

I just got on the tax rolls this year (since I'm no longer a dependent). Know what my first tax refund is going to be? -$500.

Yes, that's right, I have to pay $500. Why? Cause I got scholarships, about $10k a year worth. And no deductions come out of those automatically.

[afraid_of_the_dark]

7. I was in the red the first two years I filed taxes...

I don't see how I could possibly owe the feds money when I didn't make but 7k a year... I was in high school, for crying out loud!

[LagaLover]

8. In the red???

You mean you had to pay income taxes. No such thing as being in the red. Either you owe income taxes or you don't.

[confusionisnext]

13. Wait!!

(Disclaimer: I am not an attorney. Yet.)

Don't automatically assume that you have to pay taxes on any or all of that scholarship. You can exclude from income your scholarship to the extent that it (1) does not represent payment for services and (2) was applied to tuition and related expenses such as fees, books, supplies, and equipment. 26 U.S.C. § 117. Again, I am just a law student, so consult a tax attorney if you can.

[TXlib]

3. Prolly about the same as yours.

But my parents took it.

Pretty much every cent I earned in HS went into my college fund.

[mstrsplinter326]

4. Don't remember

but I am sure I went to Wendy's promptly

[bif]

5. $150,000 I paid cash for a house

Just kidding. My wife does our taxes so I really don't know. It was probably in the $500 range.

[capriccio]

6. Thank you, George W.

Don't remember the first one, but I do remember the one I got from George W. as a downpayment on my vote next November. With it I donated to the DNC, MoveOn.org & Planned Parenthood, subscribed to Salon & Nation, bought a Dixie Chicks CD, a box of rubbers, and a tattoo of a red-assed chimp in a cowboy hat.

[hatrack]

9. $343 - which went to the purchase of a black Fender Jazz bass

Best tax refund I ever spent!

[DS1]

10. Don't remember my first tax return, but my $300 loan was spent on

one ounce of the finest hydro :smoke: available at the time.

[CrownPrinceBandar]

11. Can't remember...

probably spent it on weed.:smoke:

This year's refund will be much better. I'm hoping to save and build on it for a move to warmer climates, that way my outdoor job can't be called on account of winter.

[ConcernedCanuk]

12. Don't remember when, don't remember how much

.
.
.

BUT

I'm sure some of it was spent on




:evilgrin: . :bounce: . :evilgrin: . :bounce: . :evilgrin: . :bounce: . :evilgrin: . :bounce: . :evilgrin: . :bounce:

[President_G_W_Bush]

14. $156,235.56

I bought my very first election with it.