Does a 17 year old student have to file taxes?

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Onie Reichert asked a question: Does a 17 year old student have to file taxes?
Asked By: Onie Reichert
Date created: Tue, Feb 9, 2021 10:41 PM
Date updated: Fri, Jul 1, 2022 5:43 AM

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Video answer: Why your teen should file a tax return

Why your teen should file a tax return

Top best answers to the question «Does a 17 year old student have to file taxes»

Beginning in 2018, a minor who may be claimed as a dependent has to file a return once their income exceeds their standard deduction. For tax year 2020 this is the greater of $1,100 or the amount of earned income plus $350.

FAQ

Those who are looking for an answer to the question «Does a 17 year old student have to file taxes?» often ask the following questions:

🎓 Does a 19 year old college student have to file taxes?

Do College Students Need to File a Tax Return? It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return.

🎓 Does an international student have to file taxes?

Yes! All international students are REQUIRED to file a return with the Internal Revenue Service (IRS) each year they are in the United States: the federal AND state tax returns required for those who earn income and the non-employed federal form for those who did not earn income.

🎓 Does my college student have to file taxes?

It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return… College students may still want to file a return even if they aren't required to do so.

Video answer: Tax return basics / single filing status / no dependents / form 1040 personal return / cpa strength

Tax return basics / single filing status / no dependents / form 1040 personal return / cpa strength

Your Answer

We've handpicked 27 related questions for you, similar to «Does a 17 year old student have to file taxes?» so you can surely find the answer!

Should you file taxes as a 4th year medical student?

During your MS4 year of medical school, file your taxes… If you made money during your fourth year of medical school or are married, you will need to consider how it will affect your income-based payments. If you are married, consider whether you should file taxes “married filing separately.”

Does my college student need to file taxes?

It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return… College students may still want to file a return even if they aren't required to do so.

How does a high school student file taxes?

A high school student only files a tax return if she earned the IRS minimum for the year… If you earned ​$600 or more​ in non-cash payments during the year, your employer should send a Form W-2 in ​late January​ or ​early February​ that gives you all the information you need to fill out your tax return.

What form does a student file for taxes?

The federal T2202 tax form is designed for all students who paid tuition fees for qualifying courses that they are eligible for claim on their income tax return. It is used to certify a student's eligibility for their tuition, education, and textbook amounts.

Can you file taxes if you have student loans?

When filing taxes, don't report your student loans as income. Student loans aren't taxable because you'll eventually repay them… But any portion of those funds used for room and board, research, travel or optional equipment is taxable. You'll report it as part of your gross income.

Video answer: All six rules for claiming a child dependent on your tax return - dependency exemption 2017

All six rules for claiming a child dependent on your tax return - dependency exemption 2017 How much money does a student have to make to file taxes?

It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return. That $12,400 includes earned income (from a job) and unearned income (such as from investments).

Do students have to file taxes?

An unmarried dependent student must file a tax return if his or her earned or unearned income exceeds certain limits. To find these limits, refer to "Dependents" under "Who Must File" in Publication 501, Dependents, Standard Deduction and Filing Information.

Video answer: 12 responds: how to get the stimulus check if you don't file taxes

12 responds: how to get the stimulus check if you don't file taxes Can a dependent student file taxes?

Answer: An unmarried dependent student must file a tax return if his or her earned or unearned income exceeds certain limits. To find these limits, refer to "Dependents" under "Who Must File" in Publication 501, Dependents, Standard Deduction and Filing Information.

Can unemployed college student file taxes?

Do I need to file. Yes, you have to file a tax return to get the stimulus. Under the CARES Act, if you are claimed, or qualify to be claimed, as a dependent on someone else's 2019 (or 2018) return you cannot receive a stimulus check, in 2020…

How to file taxes international student?
  1. Every international student, along with their dependents, will need to file Form 8843 separately.
  2. If you have received income in the last calendar year then you will need to file Form 8843 and most likely Form 1040-NR also.

Video answer: How to do your taxes explained!

How to do your taxes explained! Should college student file taxes independent?

Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return. That $12,400 includes earned income (from a job) and unearned income (such as from investments)… College students may still want to file a return even if they aren't required to do so.

Should i file taxes college student?

Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return. That $12,400 includes earned income (from a job) and unearned income (such as from investments)… College students may still want to file a return even if they aren't required to do so.

Should my college student file taxes?

Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return… College students may still want to file a return even if they aren't required to do so.

Does an unemployeed college student need to file taxes?

No. You are not required to file. But there is a case when you may want to file. If you cannot be claimed as a dependent on anybody else's return, and you are over age 23, at the end of the tax year, you may be able to claim an (up to) $1000 refundable education credit.

How does an international student without job file taxes?

Nonresident international students and scholars, for tax purposes, who are not required to file an income tax return (Form 1040NR or Form 1040NR-EZ), but are required to file Form 8843 [pdf] do not need to apply for a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN).

When does a college student need to file taxes?

Do College Students Need to File a Tax Return? It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return.

Do i have to file taxes as a college student?

It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return… College students may still want to file a return even if they aren't required to do so.

Do i have to file taxes as an international student?

Yes! All international students are REQUIRED to file a return with the Internal Revenue Service (IRS) each year they are in the United States: the federal AND state tax returns required for those who earn income and the non-employed federal form for those who did not earn income.

Video answer: W-4 basics: kids and college students earning less than $12,000 should claim exempt

W-4 basics: kids and college students earning less than $12,000 should claim exempt Do you have to file student loan interest on taxes?

When filing taxes, don't report your student loans as income. Student loans aren't taxable because you'll eventually repay them. Free money used for school is treated differently. You don't pay taxes on scholarship or fellowship money used toward tuition, fees and equipment or books required for coursework.

Do you have to file taxes as a college student?

It depends on their income and whether they had taxes withheld from their paychecks. Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return… College students may still want to file a return even if they aren't required to do so.

Do you have to file taxes as an international student?
  • Every international student is required to file their tax return if they were in the US during the previous calendar year and earned income. Even if you don’t earn income during your time in the US, you will still have a filing requirement. (Read more: Form 8843 – what is it and how do I file it?) What type of tax will I have to pay?
Do college students have to file taxes?

An unmarried dependent student must file a tax return if his or her earned or unearned income exceeds certain limits. To find these limits, refer to "Dependents" under "Who Must File" in Publication 501, Dependents, Standard Deduction and Filing Information.

Do graduate students have to file taxes?

Both are usually tax-exempt, as long as you use the money for tuition, fees, books, supplies and equipment required for enrollment and in the pursuit of a degree. If you use a scholarship or grant for other purposes, such as room and board, you must include it in your gross income, and it will be taxed.

Video answer: How to fill out the new irs form 1040 for 2018 with the new tax law

How to fill out the new irs form 1040 for 2018 with the new tax law