2006-12-22 08:10:32 · 2 answers · asked by Mr. McClean 3 in Business & Finance ➔ Taxes ➔ United States
If noone claims you as a dependent, you will probably not be required to file a 1040 return, assuming that your personal exemption as well as the standard deduction total is larger than the $2,000. And I'm assuming the 2 grand is your ONLY income for the year.
2006-12-22 08:16:57 · answer #1 · answered by Ben 2 · 2⤊ 0⤋
Ben is correct as far as he goes. Even if some one else can claim you as a dependent, you can take a $5150 standard deduction. That means you have no taxable income. If you are not a dependent, you are not required to file a return. If you are a dependent, you have to file only if bingo winnings are considered 'Unearned Income'. I couldn't tell if the IRS considers Bingo winnings earned or unearned.
2006-12-22 11:53:41 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋