I am a full time college student and this past year I was in school full time and made no income. I did however make some donations in the form of goods to some charities. Can I file and deduct these items even though I made no income?
2007-12-05 09:32:27 · 7 answers · asked by Jason 5 in Business & Finance ➔ Taxes ➔ United States
You can file a tax return if you wish. It would establish a record with the IRS for 2007. This might be helpful to you in the future when applying for scholarships and grants.
You would include any interest paid to you on bank accounts, and dividends from stock accounts. If your scholarship or grant money was used for expenses other than tuition and fees, such as room and board, the scholarship or grant might be considered partially taxable income to you.
You may not owe any tax, but if you file, you should include all your income, not just zero wages and tips from employment.
You could show your charitable contributions as a deduction on schedule A, but there probably wouldn't be any tax benefit in doing so.
Also some states, such as South Carolina, provide refundable education credits. You should file a tax return in order to take advantage of state income tax credits such as these. Contact a tax preparer in your state for more information.
http://www.sctax.org/Publications/College+Tuition+Tax+Credit.htm
2007-12-05 11:27:08 · answer #1 · answered by AngeloElectro 6 · 0⤊ 0⤋
You don't have anything to deduct it FROM, so there would be no benefit to you. Charitable donations are one allowable itemized deduction, and deductions can only reduce your tax to zero. Yours is already there. You wouldn't get anything back for them.
2007-12-05 09:37:33 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Deduct them from what? If you have no income there's nothing to deduct anything from. You owe no tax and have paid none in so there's nothing to get back.
2007-12-05 09:49:06 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
A refund is just that; a refund of taxes overpaid through withholding. If you did not work, you didn't have any taxes withheld. If you didn't have any taxes withheld, there is nothing to refund.
There is no reason for you to file.
2007-12-05 09:36:20 · answer #4 · answered by Wayne Z 7 · 0⤊ 0⤋
I hope you reported your tips to your employer and this was taken care of as you were paid but yes, the $83 should be refunded to you and you are entitled to EIC as well
2016-05-28 08:25:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I wouldn't. No tax benefit to you & more paperwork for them. Waste of everyone's time.
2007-12-05 11:39:34 · answer #6 · answered by Whyruafraid? 4 · 0⤊ 0⤋
Yes, but why? There is no benefit to you.
2007-12-05 09:34:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋