Do I have to tell my parents how much money I made if they claim me as their dependent?

[PlantParade]

I'm a full-time student and my parents claim me on their taxes.  My parents didn't want me to get a job so I can concentrate on my studies.  I got a job anyways, without them knowing.  Do I have to report how much money I made to them?  Like, do they have to know how much money I earned when they file their taxes?  I made $8,000 this year

[xmasbaby0]

How old are you?

[PlantParade]

20 years old

[SweetieJean]

This sounds like a personal issue rather than an income tax question. But, if you have any financial aid, you must report your income to the financial aid folks.

[xmasbaby0]

When you file your own tax return, you have to say on it that you can be claimed as a dependent on someone else's tax return.  SweetieJean is correct--this is not a tax question so much as an issue between you and your parents.  Since you are a full-time student under the age of 24, it does not matter for tax purposes how much you made in order for them to claim you.

[SweetieJean]

"it does not matter for tax purposes how much you made in order for them to claim you."
True, as long as you do not provide more than 50% of your own support.

[Hal_Al · Accepted solution]

The simple answer to your question is No, your parents do not need to know how much you made, as long as you do not claim your own exemption (claim yourself) on the tax return you file. And with $8000 of income, you are required to file a tax return.

But the great American tax system is complicated and convoluted and there may be exceptions. One common exception is if your parents are custodians of a UTMA in your name and that account earned more than $1050 of interest, dividends or capital gains.

[TaxGuyBill]

If your parents owe the penalty for somebody not having health insurance all year, or if they had health insurance through the Healthcare Marketplace, they DO need to know your income for their tax return.

Otherwise, I can't think of any situation where they would be required to know your income for tax purposes (but as somebody else said, it needs to be reported on your financial aid documents).

[SweetieJean]

Just be aware that correspondence from the IRS, your state, your employer, etc, may end at your parents' home.