dad's return?
2007-03-24 15:54:45 · 6 answers · asked by van 2 in Business & Finance ➔ Taxes ➔ United States
When I was a dependant of my parents, I got all of my money back. But then, I didn't earn more than the standard deduction, normally. Just follow the instructions on the form. You should be claiming single, 0. You support 0 people, not even yourself.
2007-03-24 16:00:04 · answer #1 · answered by calliope320 4 · 0⤊ 1⤋
The standard deduction is not always the same for dependents and nondependents. Dependents with more than $850 in unearned income will owe taxes, which is not the case for nondependents who can exclude $5,150 of all income.
If you are under age 65 and not blind, the standard deduction is the greater of 1) $850 or 2) earned income plus $300, not to exceed $5,150.
Additional amounts are added to the standard deduction if a dependent is over 65 or blind. These added amounts are the same for dependents and nondependents.
Source: IRS Pub 17
http://www.irs.gov/pub/irs-pdf/p17.pdf
2007-03-24 19:31:40 · answer #2 · answered by ninasgramma 7 · 1⤊ 0⤋
The standard deduction is the same as if you were not a dependent. For someone who is single, that's $5150 for the 2006 tax year. You don't get an exemption for yourself though, since your dad would be eligible to take that.
2007-03-24 17:30:40 · answer #3 · answered by Judy 7 · 0⤊ 1⤋
The standard deduction is $5150.
See page 132 of Pub 17.
2007-03-24 16:08:59 · answer #4 · answered by CarVolunteer 6 · 0⤊ 0⤋
on the 1040 you besides mght get the $3800 in case you're actually not a based. that's in the section on exemptions, that's separate on the 1040 because of the fact the question of exemptions is extra complicated there, as there are a number of strategies to have dependents.
2016-11-23 13:40:06 · answer #5 · answered by ? 4 · 0⤊ 0⤋
your standard deduction is 5,150. You do not get the exemption of 3,300.
2007-03-24 16:39:40 · answer #6 · answered by Gale 2 · 0⤊ 0⤋