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As a minor what taxes do i get refunded

 
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As a minor what taxes do i get refunded

Basically, "being a minor" has little or nothing to do with getting an income tax refund. 

It you're a 10-year old child actor that got paid $250,000 to appear in a movie, you're going to get hit with a lot of taxes and the only way your going to get "a refund" is if you paid more in taxes through taxes withheld than your tax liability based on your taxable income.  In some respects "being a minor" works against you if your parents are claiming you as a dependent because you don't get an exemption for yourself - your parents get that - you only get the standard deduction.

If you worked at a job and got paid and taxes were withheld from your paycheck then you certainly should file an income tax return.  Assuming you are a dependent of someone else then you'd need to indicate that on your income tax return - TurboTax asks - and whether you get a refund of the income taxes you paid via withholding depends on the amount of taxes withheld vs. your income tax liability.  (The way these things work there's a high probability that you will get a refund.)  But only "income taxes" are eligible for refund.  Any amounts paid into Medicare or Social Security will not be refunded to you.

Tom Young

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4 Replies

As a minor what taxes do i get refunded

Basically, "being a minor" has little or nothing to do with getting an income tax refund. 

It you're a 10-year old child actor that got paid $250,000 to appear in a movie, you're going to get hit with a lot of taxes and the only way your going to get "a refund" is if you paid more in taxes through taxes withheld than your tax liability based on your taxable income.  In some respects "being a minor" works against you if your parents are claiming you as a dependent because you don't get an exemption for yourself - your parents get that - you only get the standard deduction.

If you worked at a job and got paid and taxes were withheld from your paycheck then you certainly should file an income tax return.  Assuming you are a dependent of someone else then you'd need to indicate that on your income tax return - TurboTax asks - and whether you get a refund of the income taxes you paid via withholding depends on the amount of taxes withheld vs. your income tax liability.  (The way these things work there's a high probability that you will get a refund.)  But only "income taxes" are eligible for refund.  Any amounts paid into Medicare or Social Security will not be refunded to you.

Tom Young

As a minor what taxes do i get refunded

thnak you so much this helped a lot

As a minor what taxes do i get refunded

Any clue why FICA is not refunded for minors?  Turbo tax is refunding Fed and State withholding but not FICA and this is in line with your comment.  I am wondering why FICA is not refunded too.  Any tips much appreciated. 

As a minor what taxes do i get refunded

@heidisloane FICA is not refunded to minors.  When a person begins working --at whatever age--- they have to begin paying in to Social Security and Medicare.   Someday they will be able to get benefits from those programs.  And there is no age at which you do not pay in--even if you work until you are 100.  

 

Your dependent minor child can file their own tax return to seek a refund of federal tax from box 2 of their W-2 and a state refund of tax withheld from box 17.  But they will not get back the money that was withheld for Social Security or Medicare.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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