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?

[bwa · Accepted solution]

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

[Woodman]

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?

[bwa]

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

[Woodman]

Great - thanks!

[Woodman]

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  For my tax return, I will count him as dependent (thus he was withdrawn $400 from his income).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?

[bwa]

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.

[Woodman]

Thanks!