- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Tax Year 2016: I am a minor, do i get all of my Federal Income tax as part of my return?
Topics:
June 3, 2019
12:53 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
It depends on how much you earned, what type of income it is, and how much you had withheld from paychecks.
As a minor, being claimed as a dependent of someone else, you will receive a Standard Deduction of $6,300 for 2016. If the only income you had was from a regular job in which you received a W-2, any income over the $6,300 will be taxable. If you made less than $6,300 from wages (only W-2 income) then you should get all of your federal tax withholding refunded.
June 3, 2019
12:53 PM