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I'm helping my minor son fill out his taxes. Should he get all his federal and state back if 17 years of age and a full time student in high school still
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I'm helping my minor son fill out his taxes. Should he get all his federal and state back if 17 years of age and a full time student in high school still
Probably. However there are some circumstances that would cause the return to not be the norm. As a dependent, he is only allowed to have unearned income up to the amount of $1,050. If it is more than that amount, it is taxable. If his earned income is more than $12,000, he will also have taxable income. His withholding may not be enough to cover the tax.
Secondly, he may have had income from cash or that was reported on a 1099-Misc. Since he is not an employee for this income, he would owe Social Security and Medicare taxes on any amount over $400.
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