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.