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alej2020
New Member

A dependent parent must file a tax return for a 3k income? Must pay the estimated income tax separately?

 
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3 Replies

A dependent parent must file a tax return for a 3k income? Must pay the estimated income tax separately?

If you have had less than $5200 of income--not counting any Social Security--- you do not have to file an income tax return unless you have a 1095A for marketplace health insurance.

 

 

 

Who has to file?

http://www.irs.gov/uac/Do-I-Need-to-File-a-Tax-Return%3F

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

A dependent parent must file a tax return for a 3k income? Must pay the estimated income tax separately?

What was the source of the $3K income you mention?   Was it self-employment income----like income received for driving to deliver DoorDash, or something similar?   If you have had any sort of self-employment income you are required to file a tax return and pay self-employment tax for Social Security and Medicare.  Please explain the $3K.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

A dependent parent must file a tax return for a 3k income? Must pay the estimated income tax separately?

What do you mean a dependent parent?  Are you the parent of a small child but also a dependent of your parents?  Or a dependent of a live-in partner?  More information might help.

 

If you are a W-2 worker and your only income is $3000, you do not need to file a return.  If you had tax withheld, you can file a return only to claim a refund of the taxes.  You can't claim your child as a dependent and you can't claim any other tax benefits.  If you do, then you can no longer be claimed as a dependent by someone else, such as your parent or partner. 

 

If you are self-employed, you must file a return because your self-employment income is more than $400.  You will pay 15% self-employment tax (the equivalent of social security and medicare tax on a regular paycheck).   You do not have to pay income tax, but you still have to pay self-employment tax.  As long as you claim no credits or dependents on the income tax part of the return, you can still be claimed as a dependent by someone else even though you are paying self-employment tax. 

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