I am a full time college student, age 23 and my parent claim me as a dependent. I live with my parent and received FAFSA (my dad makes ~15k a year). I recently got a new part time job and was wondering if I have to file tax?
I haven't start my job yet but I'd probably make ~7k a year.
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None of what you describe, being a student, being a dependent, living with your parent or being on FAFSA exempts you from having to file a tax return.
It goes strictly by your income. The amount does vary by dependent status.
If a dependent must file a tax return for 2015 if he had any of the following:
1. Total income (wages, salaries, taxable scholarship etc.) of more than $6,300 (2015-16).
2. Unearned income (interest, dividends, capital gains) of more than $1050 (2015-16).
3. Unearned income over $350 and gross income of more than $1050
4. Household employee income (e.g. baby sitting, lawn mowing) over $1900 ($6300 if under age 18)
5. Other self employment income over $400, including box 7 of a 1099-MISC
Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.
He doesn’t get his own $4050 exemption (deduction), when he files. In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.
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