I only made a little over $1,000 in 2006, should I file my taxes?

Question

I live with my Dad and he has always delcared me as a dependant on his taxes every year. Last year, I barely worked(was full-time in college) and only made about $1,000(total taxes was like $200). Should I file my own taxes for something different, so that I can get a little bit of money back, or should I just have my Dad put me on his file again, thanks.

Answer 1

Your dad will still be able to claim you on his return. This is the same whether you file or not.

If some of the $200 was federal withholding, you can file a return and get it refunded to you. This won't affect your dad's return at all - he doesn't have to do anything different. Download a copy of 1040EZ from irs.gov. You should be able to fill it out yourself from the info on your W-2. When you get to the line that asks if you're a dependent, be sure to check the box for yourself.

Answer 2

Depending on where you live it could be beneficial to do both. First, you earned money and tax was deducted so you have to submit a tax return. You should get a tax refund because your earnings were so low. Second, you live with your dad, are a full time student, you are legally still his dependent even though you earned some money, therefore it's to his advantage to keep claiming you as a dependent. You should discuss this with him because if the same person does your tax returns it's quicker and easier because there could be tax deductions or credits because of your school fees. Income tax is a complicated area and it differs in every state and country. When in doubt consult a professional. It might cost a little but could save you thousands.

Answer 3

What I used to do is this...

Go online to a free tax website for low income (look at my source link). Fill out all the information like you were going to file. Then look at the amount at the end. Compare that amount you will get back to what your dad might get back if he files you. If him using you is more, go ahead and let him file you as a dependant and have him give you the money you would have gotten (plus some). And since you have to file anyways (and check the box that you were used and a dependent), you will still get a little bit back.

But if you end up getting more back by yourself, talk to you dad first. I'm sure you can use that as a bargining chip to make both of you happy. (you, needing money...him, wanting a tax break)

Answer 4

Let your dad file you on his taxes if you are a full time student or between the age of 18-24. If you are not a student and you are over the age of 18 then you need to file taxes because you made over 850.00 last year

Answer 5

You only have to file if you made over a certain amount and i don't believe $1K is it. Your dad can still claim you being that you are in school and most likely he is responsible for your tuition. And you can file as a dependent student and get a little back without it affecting his return.

Answer 6

As mentioned before, it depends if you were an employee or an independent contractor (W2 versus 1099). For a W2, you definitley do not need to file, if you received a 1099 and its for more than $400, you do need to file as you will owe self employment tax. Make sure to deduct your costs of doing business. As a side note, if nobody claims you as a dependent, you just might qualify for the EIC. You may want to look into that.

Answer 7

Yes, he can claim your income on his return. Ask a Tax Advisor on how.

Answer 8

probably best if you stay as dependent. you would be eligible for return of all withholding, however if dad provided for you, you should allow him the deduction.

oh, and agree with butta above me here.

Answer 9

if you worked then you have to file

Answer 10

If you want to give away your $130, just send it to me next time. I'm nicer than the IRS.