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Deductions & credits
It depend on the source of the income. If all W-2 income that is almost correct - it is $12,000 not $10,000. If self-employed income then if over $400 a tax return is required (not to pay income tax, but to pay the SE (medicare and social security) tax. And if unearned income then other requirements.
2018 Filing requirements for dependents.
Single dependents— (Not age 65 or older or blind)
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.
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.
2018 Filing requirements for dependents.
Single dependents— (Not age 65 or older or blind)
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.
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.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
June 1, 2019
12:42 PM