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Can I still file my own taxes if my parent claims me as a dependent?

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Can I still file my own taxes if my parent claims me as a dependent?

Postby bramm » Wed Jan 30, 2013 1:59 pm

I am a 20 year old student and my Dad told me that he was going to claim me as a dependent on his taxes. I have been told that if your parents claim you, you cant file your own taxes. I have made around $10,000 and I am really looking forward to filing my own taxes and getting my own money back. I know it wouldn't be much, but I need all the money i can get right now. Please help!
bramm
 
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Can I still file my own taxes if my parent claims me as a dependent?

Postby safwan » Wed Jan 30, 2013 2:05 pm

I am a 20 year old student and my Dad told me that he was going to claim me as a dependent on his taxes. I have been told that if your parents claim you, you cant file your own taxes. I have made around $10,000 and I am really looking forward to filing my own taxes and getting my own money back. I know it wouldn't be much, but I need all the money i can get right now. Please help!
It is correct that a 20-year old full-time student who does not provide over 50% of her support may generally be claimed by a parent.

If you earned $10,000, you have to file a tax return. If this is all of your income, just fill out Form 1040EZ (it's one page) and mail it in, or there are free efile services online. You have tax due of about $405. If you have had more than that taken out of your pay, you will get the difference back.

Your 1040 EZ will show (approx) $10,000 in wages, minus $5950 deduction since you are not claiming yourself, taxable income of $4050, and tax of $405.
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Can I still file my own taxes if my parent claims me as a dependent?

Postby renaldo41 » Wed Jan 30, 2013 2:17 pm

Whoever told you that is clueless. In fact, if you made over 5950 for the year, you are REQUIRED to file your own return, and can file if you made less but had anything withheld for federal income tax. If you have a refund coming, it goes to you, not to your dad..

What you can't do is claim an exemption for yourself on your own return. There's a place to check that you can be claimed by someone else.
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Can I still file my own taxes if my parent claims me as a dependent?

Postby abhibhava » Wed Jan 30, 2013 2:32 pm

What you were told is wrong. Everyone can file. There is currently no one who cannot file. There used to be one guy, but that was because he was being held hostage by terrorists in Lebanon and they would not let him go anywhere to file or use a computer.

What you cannot do is "file as independent" or claim yourself. If you file, then you must do it in the correct way, indicating that you can be claimed by someone else.
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Can I still file my own taxes if my parent claims me as a dependent?

Postby christos13 » Wed Jan 30, 2013 2:35 pm

Not only can you file your own tax return, since you will make more than $5,800 for the year you are required to file your own tax return. You may not, however, claim your own exemption; that goes to your parents. Likewise, they claim any education credits for which you may be eligible.
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Can I still file my own taxes if my parent claims me as a dependent?

Postby weddell » Wed Jan 30, 2013 2:38 pm

oh geesh! you file your own taxes on your own income, doesn't matter what you are
as a dependent you are not allowed to claim your personal exemption of $3800 but you are allowed up to the standard deduction of $5950 also not taxable
if you made $10000, your taxable income will be about $4050 which will be around $410 income tax
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Can I still file my own taxes if my parent claims me as a dependent?

Postby irelan66 » Wed Jan 30, 2013 2:49 pm

You should consult with your father and the tax laws to see if he has the right to claim you. He probably does. In any case you file your own return. If he can claim you, you get a lot less back. Whoever paid your education expenses gets to claim them.
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Can I still file my own taxes if my parent claims me as a dependent?

Postby arye » Wed Jan 30, 2013 3:07 pm

"I've been told" is wrong as usual.

$10,000 of income means you owe about $405 in tax. Was your federal income tax withheld more than that? If yes, you get the excess as a refund. If less, you get to write a check. Fica/MC are NOT refundable.
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Can I still file my own taxes if my parent claims me as a dependent?

Postby mathews24 » Wed Jan 30, 2013 3:15 pm

Yes. You just indicate you are a dependent of someone else.

You had been told wrong.
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