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Level 1
February 10, 2022
Question

I made roughly 5000$ last year but i don’t know if i can file my taxes with that low of a number and i’m 19 so i don’t know anything about filing my taxes

  • February 10, 2022
  • 2 replies
  • 1 view
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2 replies

Mike9241
Level 15
Level 15
February 10, 2022

you didn't provide enough info.

can you be claimed as a dependent (doesn't matter whether you are or arent the question is could you be claimed)

You could be claimed as a qualifying child if all these tests are met
• You have the same principal abode as the other party for more than ½ the tax year. Temporary absences like for school are ignored
• If not a full-time student (any part of any 5 months – in a letter ruling the IRS allowed the month the student registered even though classes didn’t start until the next month), you’re under 19 at the end of the tax year. If a full-time student under 24 at end of tax year.
• you haven't provided over ½ your own support
• you didn't file a joint return unless there was no tax liability but merely filing joint to facilitate refund of taxes withheld or estimates paid
Or as you could be a qualifying relative if all these test are met
You’re related to the other person or, if not, lived with the other party for the entire year and
• your gross income for 2021 less than $4,300
• the other party provided over ½ your support
• you aren't a qualifying child of another taxpayer

 

however, if there was withholding then the only way to get it back is to file.  also, if you live in a state with an individual income tax the filing requirements are likely quite different. the following only applies to your federal return

 

assuming you could not be claimed and are not married then the filing requirements are and only got a w-2 you do not have to file. 

 

assuming you could be claimed as a dependent and are not married

You must file a return if any of the following apply.
• Your unearned income was over $1,100 (dividends, interest)
• Your earned income was over $12,550 (wages or self-employment income)
• Your gross income was more than your earned income (up to $12,200) plus $350

 

 

there are exceptions to the above that would require you to file if any of these situations are true

 

Chart C—Other Situations When You Must File
You must file a return if any of the seven conditions below apply for 2021.
1. You owe any special taxes, including any of the following.
a. Alternative minimum tax.
b. Additional tax on a qualified plan, including an individual retirement arrangement (IRA), or other tax-favored account. But if you are filing a return only because you owe this tax, you can file Form 5329 by itself.
c. Household employment taxes. But if you are filing a return only because you owe this tax, you can file Schedule H by itself.
d. Social security and Medicare tax on tips you didn't report to your employer or on wages you received from an employer who didn't withhold these taxes.
e. Write-in taxes, including uncollected social security and Medicare or RRTA tax on tips you reported to your employer or on group-term life insurance and additional taxes on health savings accounts. See the instructions for Schedule 2, line 8.
f. Recapture taxes. See the instructions for line 16 and Schedule 2, lines 10 through 18.
2. You (or your spouse if filing jointly) received health savings account, Archer MSA, or Medicare Advantage MSA distributions.
3. You had net earnings from self-employment of at least $400.
4. You had wages of $108.28 or more from a church or qualified church-controlled organization that is exempt from employer social security and Medicare taxes.
5. Advance payments of the premium tax credit were made for you, your spouse, or a dependent who enrolled in coverage through the Marketplace. You or whoever enrolled you should have received Form(s) 1095-A showing the amount of the advance payments.
6. Advance payments of the health coverage tax credit were made for you, your spouse, or a dependent. You or whoever enrolled you should have received Form(s) 1099-H showing the amount of the advance payments.
7. You are required to include amounts in income under section 965 or you have a net tax liability under section 965 that you are paying in installments under section 965(h) or deferred by making an election under section 965(i).
Need more

 

 

 

 

 

 

Mike9241
DMarkM1
Level 15
February 10, 2022

You can file tax returns with that income and usually any taxes you paid in through your employer withholding (W2 box 2) you will get refunded. 

 

The next question is are you a full-time student?  Did you live with your parents when not in school?  If the answer is "yes" to these two questions, then you can be a dependent on their returns.  You would still file your return, but indicate that "You can be claimed as a dependent on someone else's return".  You'll find that option in the "My Info" section.  

 

 

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