I have 20 year old daughter, who is a full time college student (15 credits a semester). I claim her as a dependent on my tax return.She has a job and earns $12,000 a years. Is this income taxable to her or it exempt due to her full time student status?
A student is not exempt from paying taxes.
2017 Filing requirements for dependents.
Federal Dependent filing requirements: (State requirements may be different)
1) Dependents unearned income was more than $1,050.
2) Dependents earned income was more than $6,300.
3) Dependents gross income was more than the larger of-
a) $1,050, or
b) Dependents earned income (up to $5,950) plus $350.
Or Dependent had net earnings from self-employment of at least $400.
However, if any tax was withheld, then Dependent might want to file anyway to get a refund of the tax withheld.
Also, a person that CAN be a dependent cannot claim him/her self and must check the box that says that another taxpayer can claim them (whether or not that taxpayer actually claims him/her).
Note: your state filing requirements might be different than the federal.
You do not report her income on your return. If it has to be reported, at all, it goes on her own return.
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