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2007-04-09 20:07:14 · 5 answers · asked by Abe 2 in Business & Finance Taxes United States

5 answers

when you start working. after a year. you can file your taxes

2007-04-09 20:14:58 · answer #1 · answered by MiZ BeNZ 3 · 1 1

Any person, regardless of age, who has gross income that exceeds the applicable standard deduction and personal exemption is required to file a Federal income tax return. Some wealthy families set up trusts or accounts that pass investment income to minor children (even infants) for the purpose of minimizing the tax liability on family income. The applicable standard deduction for a minor may be limited if the minor does not have earned income (read wages or other self-employment income) at least equal to the particular year's standard deduction amount. Also, if parents claim a child as a dependent, the child cannot also take his own personal exemption.

So, the answer does not depend on age--rather, it depends on income.

2007-04-10 05:47:26 · answer #2 · answered by byu1980 2 · 1 0

Whenever your income meets or exceeds the filing requirement amount. It doesn't matterr what your age is.

Even if you are below the filing amount you should file if any tax was withheld to have that refunded and to claim the EITC if you are eligible for it.

2007-04-10 06:02:21 · answer #3 · answered by Bostonian In MO 7 · 0 0

When you have enough income to be required to file, then you must file. If you have income taxes withheld but don't have to file, you should file anyway to get them refunded

2007-04-10 14:11:25 · answer #4 · answered by Judy 7 · 0 0

basically , if u work u have 2 pay taxes . Anything over $ 99 is considered taxable

2007-04-10 03:31:09 · answer #5 · answered by Anonymous · 0 4

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