what's the best way.... claiming myself on my taxes or my parent claiming me as her dependent?

Question

i'm 18, college student,, and i work part time.
and i'm talking about filing taxes in the U.S....

how could i get the most refund,, pls help me with this and explain it to me,, i need to understand these things now.

Answer 1

you will get the larger refund if you claim yourself.

and i'm not sure what the person above is talking about but as far as i know you can claim yourself.

the exemption for claiming yourself is $3300. that means if you claim yourself, your income will be reduced by that amount. if a parent claims you, you are a dependent and you won't get that deduction, the parent will.

for further clarification:

your income is $13,300. you claim yourself, your income becomes $10000.
your income is $13,300. your parent claims you, your income stays $13,300.

Answer 2

Unfortunately the way the law is written you may not claim yourself as an exemption on your return because you are under age nineteen and a full time student.
Because of the hidden tax increase on the middle class you are subject to the kiddie tax until you turn nineteen. This tax rate only applied until you were fourteen in the past but your Congress decided to raise taxes on kids by raising the age to eighteen in the 2006 tax act.

Answer 3

the best way to find out is go to the irs.gov website check out the forms that allow you to do estimates for your taxes and how much you will receive back at the end of the year and see which one would be the best way to go.

That way you will see which way you will receive more cash back.