First time doing taxes??

Forum|Forum|1 year ago
March 9, 2025
1 reply
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I’m 21, just graduated college in December. I have a 1098 form I received from the college since I worked on campus as a student. Aside from that- I had had 2 part time jobs from May 2024-January 2025 and right now I have a full time job I started at the end of January 2025. My parents supported me financially until August 2024. Am I able to file my own w-2 forms or leave it to my parents to claim on their end? It’s my first time I’m so confused with everything!!

MinhT1

Level 15

if you are under 24 and a full time student in 2024, and didn't provide more than half of your own support in 2024, then your parents still claim you as a dependent. Your parents will then claim your education credits if any. They will file your form 1098-T.

If you have income, you must file your own tax return if you had any of the following:

Total income (wages, salaries, taxable scholarship etc.) of more than $14,600 in 2024.
Unearned income (interest, dividends, capital gains) of more than $1,300.
Gross income (earned plus unearned) exceeding the larger of $1,300 or his earned income (up to $14,600) plus $400.
Other self-employment income over $400, including box 1 of a 1099-NEC.

You have to indicate in the My Info section of TurboTax that you can be claimed as a dependent by another taxpayer.

Even if you earn less, you can file if you need to get back income tax withholding. You can't get back Social Security or Medicare tax withholding.

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aguikar92Author

Level 2

What if I was a part time student finishing my last 3 classes in Fall Semester 2024. I didn’t quite count as full time since I had so little hours to finish to get my degree. Does that still count?

thank you!

VictoriaD75

Level 12

Were you a full-time student in the spring semester of 2024? If so, you will still count as a full-time student for the entire year. You will still need to file your own return to report the W2 income. However, if your parents are claiming you as a dependent, you will not be able to claim education credits. Your parents may be able to claim them on their return.

@aguikar92

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