If your dependent has a W-2 for his after-school job, summer job, etc. you do not include the information on your own return. You can still claim your child as a dependent on your own return. He/she can file his own return for a refund of some of his withheld wages (he won’t get back anything for Social Security or Medicare), but MUST indicate on it that he can be claimed as a dependent on someone else’s return. (Supervise this closely or prepare it for him!)
If your dependent’s earnings were over $400 and were reported on a 1099Misc then he must file a return and pay self-employment tax for Social Security and Medicare. You may want to use this version of TT for that:
Hello xmasbaby0,
If I understand your reply correct, 1) my dependent has W-2 from his after-school work, 2) he can create his own tax report, 3) I can still claim him as my dependent, 4) I make sure his tax report saying he got called dependent from someone else, 5) I don't add his W-2 earn in my tax report. But his W-2 earn is less than $12,500, so no need to report to IRS. Does it make sense?
@nicepat All correct ... he doesn't need to file if the income is less than 12500 however he may want to file to get back any fed/state withholdings he is entitled to.
If your son has anything in box 2 or box 17 of his W-2 he is going to want to get a refund. He can file a return to get the refund. He just has to say on his own return that he can be claimed as someone else's dependent.
If your son has anything in box 2 or box 17 of his W-2 he is going to want to get a refund. He can file a return to get the refund. He just has to say on his own return tha