what is the maximum gross income for students to be exempted from tax?

Question

i am a full-time student that works part time in california. i heard that students do not have to pay tax if they make less than a certain amount. do you know how much it is? would you also happen to know if students have to pay tax for the money they make from work study?

Answer 1

It depends on whether you are claimed as a dependent by another return. If so, you can make a difference. Also it makes a difference if you have unearned income--dividends, interest, and capital gains. It also makes a difference if you are an alien or married.

If you do not have unearned income and are not married and not an alien and not claimed as a dependent, $8,200.

Answer 2

Assumptions, you are not married and are under 65.

For students that can NOT be claimed as dependents on someone else’s tax return (they will claim themselves), you don't have to file a federal tax return if your total income is less than:

the standard deduction ($5150 for singles)
plus $3,300 (claiming yourself)

For students that CAN be claimed as dependents on someone else’s tax return, you don't have to file a federal tax return if your total income is less than:

the standard deduction ($5150 for singles)
plus $1250 if you are blind

OR

If your unearned income (interest, dividends, etc.) is more than $250 AND your total income (earned and unearned) is more than $800, you MUST file a tax return. You also must file if there is anything in box 9 of your W-2.

If your self-employment income (1099 MISC, you work for yourself, etc.) is $400 or more, regardless what was said already, you have to file a federal tax return.

Finally, even if you don't have to file, if you have withholding in box 2, you should file to get this back. I don't know money earned from "work study" would be taxed any differently than other earned income. See if you get a W-2.

Great question! Sure hope this helps :)

Answer 3

Being a student is only relevant to the extent that it affects your parents ability to claim you as a dependent. If they can, it reduces your standard deduction and prevents you from claiming a personal exemption. If your income is less than your standard deduction + your personal exemption, you are not required to file because your taxable income is zero. If you had any Federal income tax withheld, you can claim a refund, but only if you file. For state taxes, the rules vary by state. The instructions for the Form 1040 include a section titled 'Do I Have To File' on page 12.

Answer 4

..I think it depends on state. I would go ask the person who file your income tax. or a tax agency like HR Block

Answer 5

if you make any money you have to file a tax return,because it has to do with s.s.