Does anybody know if there is a minimum age to file'x taxs (I am in NY)
-Thanks
2007-12-03 10:17:11 · 6 answers · asked by Michael C 1 in Business & Finance ➔ Taxes ➔ United States
If you have a very small child with income, you may be tempted to fold it into your return. In general, you should file a return for the child. They will usually owe less in tax than you would because of the additional income. Also if this is a capital investment, it establishes ownership for capital gains purposes.
2007-12-03 11:35:04 · answer #1 · answered by Computer Guy 7 · 0⤊ 1⤋
Minimum Age To File Taxes
2016-11-01 14:44:23 · answer #2 · answered by ? 4 · 0⤊ 0⤋
No minimum - if a baby had income that required him or her to file ($5350 in 2007 for earned income) then they'd have to file.
2007-12-03 12:25:53 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
At birth, if you have enough income. Tax liability is based upon income. Age can be a factor but income is the driving force. There are infants with taxable income and their parents have to file returns in their names.
2007-12-03 12:12:01 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
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RE:
Minimum age to file taxes?
Does anybody know if there is a minimum age to file'x taxs (I am in NY)
-Thanks
2015-08-13 01:37:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you have any income at all to report you should file taxes. Age has nothing to do with it.
2007-12-03 10:24:49 · answer #6 · answered by Too Silly 5 · 2⤊ 0⤋
No there is not. It is your INCOME that triggers a requirement to file tax returns.
2007-12-03 10:24:21 · answer #7 · answered by Anonymous · 2⤊ 0⤋
No minimum age; however, if you're under 18, your folks can choose to include your income on their tax return, so you don't have to file.
2007-12-03 10:27:41 · answer #8 · answered by Anonymous · 0⤊ 3⤋