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nubia44102
New Member

How do i know if i have to file taxes? i am currently in college, i receive loans and grants from the school and work for the school 10 hours a week minimum wage.

 
1 Reply
KrisD
Intuit Alumni

How do i know if i have to file taxes? i am currently in college, i receive loans and grants from the school and work for the school 10 hours a week minimum wage.

Scholarships and grants may be taxable depending on what they were used for. 

Loans do not count as income. 

You may also be eligible for credits depending on your filing status. 

If someone else claims you and they use your education expenses for a credit, you need to check with them to see if they allocated any of your grants as taxable income for you to claim. 

FILING REQUIREMENTS FOR TAXPAYERS: UPDATED FOR TAX YEAR 2018 

Single

under 65 $12,000

65 or older $13,600

Head of Household

under 65 $18,000

65 or older $19,600

Married, Filing Jointly***

under 65 (both spouses) $24,000

65 or older (one spouse) $25,300

65 or older (both spouses) $26,600

Married, Filing Separately

any age $5

Qualifying Widow(er) with dependent child

under 65 $24,000

65 or older $25,300

 

FILING REQUIREMENTS FOR DEPENDENTS:

Single dependents—

Were you either age 65 or older or blind?

No. You must file a return if any of the following apply. 1. Your unearned income was more than $1,050. 2. Your earned income was more than $12,000. 3. Your gross income was more than the larger of— a. $1,050, or b. Your earned income (up to $11,650) plus $350.

Yes. You must file a return if any of the following apply. 1. Your unearned income was more than $2,650 ($4,250 if 65 or older and blind). 2. Your earned income was more than $13,600 ($15,200 if 65 or older and blind). 3. Your gross income was more than the larger of— a. $2,650 ($4,250 if 65 or older and blind), or b. Your earned income (up to $11,650) plus $1,950 ($3,5500 if 65 or older and blind).

Married dependents—

Were you either age 65 or older or blind?

No. You must file a return if any of the following apply. 1. Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. 2. Your unearned income was more than $1,050. 3. Your earned income was more than $12,000. 4. Your gross income was more than the larger of— a. $1,050, or b. Your earned income (up to $11,650) plus $350.

Yes. You must file a return if any of the following apply. 1. Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. 2. Your unearned income was more than $2,350 ($3,650 if 65 or older and blind). 3. Your earned income was more than $13,300 ($14,600 if 65 or older and blind). 4. Your gross income was more than the larger of— a. $2,350 ($3,650 if 65 or older and blind), or b. Your earned income (up to $11650) plus $1,650 ($2,950 if 65 or older and blind)

 

CLICK HERE for IRS Pub 501 Exemptions, Standard Deduction, Filing Information


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