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Get your taxes done using TurboTax
When you are filing as a dependent, your standard deduction is your earned income + $400. When you are filing on your own, the standard deduction is $13,850. That is a huge difference in taxable income.
Children who only have earned income from a job or self-employment, don’t make enough money to be required to file, or are filing jointly with their spouses are exempt from the Kiddie Tax.
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April 9, 2024
8:39 AM