Filing for son

Forum|Forum|3 years ago
June 14, 2023
1 reply
5 views

What is the amount a 21 year old student can make before they are REQUIRED to file a tax return?

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Bsch4477

Level 15

The minimum income requiring a dependent to file a federal tax return. 2022 filing requirements for dependents under 65: Earned income of at least $12,950, or unearned income (like from investments or trusts) of at least $1,150.

Self employment income over $400 is subject to self employment tax.

billmcseAuthor

Level 4

What about interest income (he cashed in some bonds)? Is that considered part of the $1150?

Bsch4477

Level 15

Yes, both interest and capital gains are unearned income.

Filing for son

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