Questions on taxes?

Question

18 years old. I am dependent on my parents. I work part time at an assisted living center.

So I have come to ask the gurus of Yahoo:

I use to have two part time jobs. I quit one of them back in August (because I was starting school, and I wouldn't be able to work on weekdays).

So here are my questions:

1). Will I have to pay taxes for the job that I quit almost 5-6 months ago? (I haven't gotten my W-2 for it, btw it's KUMON).

2). When people refer to the $5121 limit (correct me if I am wrong) where if I make over that much, I must file for taxes. This may sound stupid but uh...does that mean that if I made $5121 in one year, I must file for taxes, or in total over a period of time (i.e over say a few years)?

Thanks for helping a tax newbie out!

Yes I am planning on filing!

Answer 1

even if you didnt make that much (the limit is for 1 year) you may still want to file your taxes so you can get your refund.

Answer 2

Yes, you have to pay taxes on both jobs if the total is enough that you owe anything. If you haven't gotten your KUMON W-2 in the next few days, call them and ask them to send you another one.

If you made over $5150 (not 5121) in 2006, then you have to file, otherwise you don't have to. But if you had any federal income taxes withheld you should file anyway to get them refunded.

Answer 3

Federal income taxes are based on a calendar year for ordinary taxpayers. If you made more than $5,150 in 2006 you must file a return.

Even if you made less than $5,150 in 2006, you should file a return to get back any income taxes that were withheld from your pay.

If you weren't a dependent, the income limit would have been $8,450

Answer 4

The question for you is: did your employer(s) withold federal income taxes from your part-time jobs?

From irs.gov:

"Even if you do not have to file a return, you should file one to get a refund of any Federal Income Tax withheld."

So you may be entitled to a refund which you will not get unless you file!