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Level 2
June 1, 2019
Solved

Parent claimed me I have to file but own return and now owe for federal return, why is that? I made less that 15,000.

  • June 1, 2019
  • 3 replies
  • 24 views
full time student, 18, live with parent
Best answer by null725
When you are claimed as a dependent, your parent gets your personal exemption. That means that you pay tax on $4,050 more income than you would if you were not claimed. You have a standard deduction worth $6,300. Any income that you make that is more than $6,300 is taxable. If the tax calculated on your taxable income is more than that tax that was withheld, you owe.

3 replies

null725Answer
Level 13
June 1, 2019
When you are claimed as a dependent, your parent gets your personal exemption. That means that you pay tax on $4,050 more income than you would if you were not claimed. You have a standard deduction worth $6,300. Any income that you make that is more than $6,300 is taxable. If the tax calculated on your taxable income is more than that tax that was withheld, you owe.
Level 2
June 1, 2019
Would it have made a difference if I just claimed myself?