topic Does my 20yrs son @ colledge need to file tax return to get refund? He earned $4000 and tax deducted $400. He also has foreign bank >$50,000 so need to file form 8938? in Deductions & credits

Does my 20yrs son @ colledge need to file tax return to get refund? He earned $4000 and tax deducted $400. He also has foreign bank >$50,000 so need to file form 8938?

Woodman — Sat, 01 Jun 2019 04:32:27 GMT

There is no way for him to get a refund of withheld taxes...

bwa — Sat, 01 Jun 2019 04:32:29 GMT

There is no way for him to get a refund of withheld taxes without filing a tax return.

Thanks. In this case does he need to submit form 8938 as...

Woodman — Sat, 01 Jun 2019 04:32:34 GMT

Thanks. In this case does he need to submit form 8938 as well, given owing >$50,000 foreign bank asset? If so can he still use form 1040EZ or needs to be 1040?

The instructions for Form 8938 indicate it can be attache...

bwa — Sat, 01 Jun 2019 04:32:35 GMT

The instructions for Form 8938 indicate it can be attached to several returns including Form 1040. Forms 1040-A and EZ are not included.

Great - thanks!

Woodman — Sat, 01 Jun 2019 04:32:36 GMT

Great - thanks!

May I ask one more clarification? For my tax return, I w...

Woodman — Sat, 01 Jun 2019 04:32:38 GMT

May I ask one more clarification? For my tax return, I will count him as dependent (thus he was withdrawn $400 from his income). Still he can file his own tax return above to get his tax refund (he should pay no tax), correct?

You can claim him as a dependent so long as he did not pr...

bwa — Sat, 01 Jun 2019 04:32:40 GMT

You can claim him as a dependent so long as he did not provide more than 1/2 of his own support, and he can file his return and get a refund of any withheld tax.

Thanks!

Woodman — Sat, 01 Jun 2019 04:32:43 GMT

Thanks!

topic Does my 20yrs son @ colledge need to file tax return to get refund? He earned $4000 and tax deducted $400. He also has foreign bank &gt;$50,000 so need to file form 8938? in Deductions & credits

Does my 20yrs son @ colledge need to file tax return to get refund? He earned $4000 and tax deducted $400. He also has foreign bank >$50,000 so need to file form 8938?

There is no way for him to get a refund of withheld taxes...

Thanks. In this case does he need to submit form 8938 as...

The instructions for Form 8938 indicate it can be attache...

Great - thanks!

May I ask one more clarification? For my tax return, I w...

You can claim him as a dependent so long as he did not pr...

Thanks!

topic Does my 20yrs son @ colledge need to file tax return to get refund? He earned $4000 and tax deducted $400. He also has foreign bank >$50,000 so need to file form 8938? in Deductions & credits