in Education
You'll need to sign in or create an account to connect with an expert.
Unfortunately, being a Student doesn’t automatically exempt you from paying income taxes. Whether or not you have to pay income taxes depends on how much income you earn during the year.
If you are being claimed as a Dependent, any income you have over $6,350 is taxable. If you are not claimed as a Dependent, any income over $10,400 is taxable.
A federal tax liability of around $2,000 sounds about right for $23,000 in income if you are being claimed as a Dependent. If you did not have enough federal taxes withheld to cover your tax liability you will end up owing the difference.
Please comment below if I can help you further.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
l-melisa-taylor
New Member
in Education
fletcherrachel27
New Member
cover2girl
New Member
steventate1728
New Member
Newlifestarts120608
New Member