Income Tax Return?

Question

I am 16 turning 17 in April I have no children I live in Florida and with my mom, dad, and little sister I started working in June of 2006 and I want to know can I expect any income? Someone Help me

Answer 1

Unless you earned more than $7500 for the year, you don't even have to file taxes. Your parents can still claim you and that's probably going to be the greater benefit (just not necessarily for you).

Answer 2

carlover29 has the numbers wrong. As a dependent of your parents, you are required to file if your income is above $5,150 (the standard deduction for filing single). You cannot claim a personal exemption as your parents are entitled to that. If your income is less than $5150, you should file anyway. That is the only way to claim a refund for the taxes withheld. At $5150 or under, you should get all of your federal withholding refunded. Above that amount, you will have a tax liability, but will probably still receive a refund.
See page 12 below for details. I've found most questions here are answered in the 1040 instructions. I link them so often, I started opening them in a separate window before opening Yahoo Answers.

Answer 3

You will want to file an income tax return if your employer withheld federal income tax. Check your W-2 form. If your parents can claim you as a dependent you can not claim yourself. In all likelihood, you will get a refund of tax withheld.