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Dependent college student who has eared $15,000 in 2016. only fica and Soc Sec paid. Doesn't he need to file return as well?
I claim him on my return. He needs to file right, but wondering if all $15,000 is taxable, or if the first 5,700 is still excludable since he is still in school
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June 6, 2019
6:56 AM
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Education
The income does need to be reported on his tax return, and he needs to file.
Since he is being claimed as your dependent, he will only have a 6,300 dollar standard deduction. He will owe tax on this return. The tax on 15,000 dollars of wages on a dependent return would be about 870 dollars.
June 6, 2019
6:56 AM