2006-12-26 18:19:39 · 4 answers · asked by rec 1 in Business & Finance ➔ Taxes ➔ United States
Being a student doesn't have anything to do with it. If you're claimed as a dependent, then if you make less than a little over $5000, you'll get back everything you pay in - much over that and some of your withholding will be kept for taxes you'll owe. If you're not a dependent, then you can make up to $8450 in 2006 and get everything back.
And if you didn't have anything withheld, you won't have anything to get back, assuming you're under 25 and don't have a child - if you're over 25 or have a child, you might be eligible for an earned income credit.
2006-12-27 03:57:38 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
Judy is absolutely right and has the best answer.
I am tired of hearing that being a student means no tax liability. If that were the case, what billionaire wouldn't spend twelve hours a week in a classroom to save hundreds of millions a year in income taxes.
If you make less than the deduction amount you wouldn't pay any taxes even if you are NOT a student.
2006-12-27 13:28:28 · answer #2 · answered by Breandan 3 · 0⤊ 0⤋
All of it. If your total does not go over the standard deduction (5k) and personal exemption (3.2k), then you'll get a refund. As it stands now any income under $8.2k is tax exempt.
2006-12-27 08:55:09 · answer #3 · answered by Kevin K 3 · 0⤊ 0⤋
I'm also a student, and since I work part time and still live at home with my parents, I get full refund.
2006-12-27 02:33:05 · answer #4 · answered by #125 3 · 0⤊ 0⤋