2.1 Filing Requirements/Status/Dependents/Exemptions: Filing Requirements
I am a student attending college and working part-time. Do I have
to file a tax return?
If you are an individual who may be claimed as a dependent on another person's
return and you are single and under age 65, you must file a return if any
of the following circumstances apply: first, your unearned income was more
than $750. Unearned income includes taxable interest, dividends, capital gains,
and trust distributions of interest, dividends, capital gains, and survivor
annuities. If you had an investment loss, your unearned income could be a
negative amount. Second, your earned income was more than $4,750. Earned income
includes wages, tips, taxable scholarship and fellowship grants, and salaries.
If part of your earned income is from tips, see Tax Topic 402 , Tips .
Third, your total income was more than the larger of $750 or your earned income
(up to $4,750) plus $250. If you file Form 1040EZ (PDF), Income
Tax Return for Single and Joint Filers With No Dependents , your total
income is the same as your adjusted gross income. If you are 65 or older,
or married, refer to the instructions in your tax package or Publication 929, Tax
Rules for Children and Dependents, or Publication 501, Exemptions , Standard
Deduction, and Filing Information .
References:
How much does a student have to make before he or she has to file
an income tax return?
If you are an unmarried dependent, you must file a tax return for 2003
if you have earned income of more than $4,750, unearned income of more than
$750, or if your gross income is more than $750 and exceeds your earned income
by more than $250. If part of your earned income is from tips, see Tax Topic 402, Tips .
Even if you do not have to file, you should file a federal income tax return
to get money back if any of the following apply:
You had income tax withheld from your pay.
You qualify for the earned income credit.
You qualify for the additional child tax credit.
Refer to Publication 501, Exemptions, Standard Deduction and Filing
Information, for an explanation of the five exemption tests and filing requirement
rules.
References:
My daughter is my dependent and receives dividend income. Does she
need to file a federal income tax return?
A federal income tax return usually must be filed for a child whose investment
income, such as interest and dividends, totals more than $750. For more information,
refer to Tax Topic 351, Who Must File. There are special rules
that affect the tax on certain investment income of a child under age 14.
For more information, refer to Tax Topic 553, Tax On A Child's Investment
Income, or Publication 929, Tax Rules for Children and Dependents.
References:
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