topic Im 19 and accidentally filed exempt at my job I've earned around 9,000 so far? in Get your taxes done using TurboTax

Im 19 and accidentally filed exempt at my job I've earned around 9,000 so far?

angelly99 — Mon, 03 Jun 2019 17:25:14 GMT

I'm also a full time student and payed around 6,000 on tuition fees so far, I basically live on my own but i'm not sure if i can file for independent. Would I owe anything to the IRS? and can I ask for credit tax deductions?

Change your W-4 now to remove the exempt status. And at...

Critter — Mon, 03 Jun 2019 17:25:15 GMT

Change your W-4 now to remove the exempt status.

And at the age of 19 it is highly likely you are still a dependent of someone unless you can prove you paid for more than 1/2 of you living expenses from earned income like wages.

There is a very good worksheet to help you determine how much support you provide. It is on page 15 of IRS Pub. 501
<a rel="nofollow" target="_blank" href="http://www.irs.gov/pub/irs-pdf/p501.pdf">http://www.irs.gov/pub/irs-pdf/p501.pdf</a>

"I basically live on my own" sounds like you don't live o...

Hal_Al — Mon, 03 Jun 2019 17:25:16 GMT

"I basically live on my own" sounds like you don't live on your own for tax purposes.

Taxes are complicated, so where you really live is important. There are two types of dependents, "Qualifying Children"(QC) and standard ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, a relationship test and residence test. Only a QC qualifies a taxpayer for the Earned Income Credit and the Child Tax Credit. They are interrelated but the rules are different for each.

A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:

1. He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled

2. He did not provide more than 1/2 his own support. Scholarships are considered third party support and not as support provided by the student.

3. He lived with the parent (including temporary absences such as away at school) for more than half the year

So, it doesn't matter how much he earned. What matters is how much he spent on support. Money he put into savings does not count as support he spent on him self.

The support value of the home the parents provided is the fair market rental value of the home plus utilities & other expenses divided by the number of occupants.

"Can I ask for credit tax deductions"? That's complicated too. Basically, you can't, those go to your parents. Even if you were allowed to file independent (claim yourself); there are severe restrictions on someone under age 24 getting the best education credit.