Not only CAN you file, you MUST file, since you made over $5125.
No, you can not claim yourself, since your father already did.
2007-02-16 09:30:18
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answer #1
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answered by Lisa A 7
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Yes, you have to file your own tax return. You can only be claimed as a dependent over the age of 19 if you are attending college (in which you would be the age of 24). However, you still would have to file taxes regardless. Based on your income, a 1040 EZ form should be sufficient. If you are in college which would make you a dependent of your parents, you will not be able to get an exemption. However, you can get the standard deduction (everyone is entitled to the standard deduction). If you are not considered a dependent, you would be able to get one exemption, the standard deduction, and possibly an earned income credit based on the income that you have stated. Either way, you would probably get all of your money back (if you had paid taxes) or will not owe much of any (if you haven't paid taxes). The standard deduction is around $5350.00 and the personal exemption is about $3400.00. Those amounts are deducted from your income before your tax amount is determined. Based on that figure, 10% would be your tax bracket. So, if you subtract the $5350.00 from the $7000.00, that would leave $1650.00. If you multiply that figure by 10%, that would leave you with $165.00 of taxes to be paid. However, if you were to subtract the $3400.00 for an exemption in addition to the standard deduction, then you would not owe any tax. So you would probably come out better if you were to claim yourself -- and with the earned income credit, you could gross a small amount since it is a credit and not a deduction. In the case that my post is not clear, I left a link that provides information on the 1040 EZ form.
2016-05-24 07:44:11
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answer #2
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answered by ? 4
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You question is good, just not enough information. I take it your still under 18 and living at home?
If so, yes he can put you down as a dependent for tax purposes, because he paid for more than 6 months of you shelter, clothes, etc.
But you also have to file taxes. On the form it should ask if you were claimed by someone else.
2007-02-16 09:33:10
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answer #3
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answered by Chief 1
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In order for your dad to be able to claim you, you must be one of the following:
under age 19 (or)
under age 24 and a full-time student (or)
19 or older, but with income less than 3300 for the year
Also, you can't have provided more than half of your OWN support. Unless your dad makes at the very least 30,000 per yr, then he can't claim you as a dependent if you are 19+ and not a student.
As for a refund, if your dad does actually qualify to claim you, then you cannot claim your own personal exemption, and your standard deduction would be the larger of $850 or earned and unearned income plus $300, up to $5150. So, your standard deduction is $5150.
Wages of 15,000
- 5150 standard deduction = 9,850 of taxable income.
This makes your tax liability 1,104
If you didn't have at least this much withheld in federal tax, then you will owe the IRS.
2007-02-16 14:53:30
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answer #4
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answered by Anonymous
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Since you made $15,000, you are required to file a return whether someone else claimed you or not. And whether or not you get a refund depends on whether you paid in more withholding than the taxes you owe, or not.
2007-02-16 14:00:04
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answer #5
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answered by Judy 7
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You MUST file with that much income! Whether or not you get a refund will depend upon how much tax was withheld.
By the way, you FILE a return, you don't "get" one. Maybe you'll get a refund and maybe you'll owe; you'll have to prepare your return to know where you stand on that.
2007-02-16 11:02:24
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answer #6
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answered by Bostonian In MO 7
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Must file but key is what you put on W-4 when you were hired. If single zero should be about even. SIngle 1 not too bad. Single 2 & up or the worst - exempt - & you will be paying.
2007-02-16 09:39:39
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answer #7
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answered by vegas_iwish 5
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Nope. When you file you will e asked if anyone can or has claimed you as a dependent.
2007-02-16 09:27:52
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answer #8
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answered by yetiusmc 2
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you made 15k and live with dad?If so....yup, he can deduct you. If not...he could get in some hot water
2007-02-16 09:39:57
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answer #9
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answered by phillyvic 4
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