I claimed exempt on my w-4 because I am a full time student, and a dependent under 24. When filing am I required to pay the estimated tax amount due?

[nmjones928]

I am 22 and a full time student. My parent has already claimed myself and my educational credit on their tax return. I claim exempt due to these circumstances. When I put in my own tax information to file, it is coming up as a balance being owed to to the fact that I did claim exempt and paid no federal taxes throughout the year. How do I avoid this?

[Anita01]

There's no way to avoid it for your 2017 return, unfortunately.  The problem was claiming exempt for your W-4.  Being claimed by a parent and being a full-time student does not make you exempt.  In fact, it will almost ensure that you will owe tax at year-end if you work.  Change your W-4 at work ASAP.  Keep in mind that, if you decide to do work where you'll receive a 1099-MISC at  any time in future years, any amount of income over $400 will require that you pay both regular income tax and Self-employment tax.  It's a very expensive type of work in your situation, so stick to W-2 jobs if you can.