Skip to main content
December 23, 2024
Solved

Hello, I live in Nevada and I made less than $600 from working and attend college. Do I need to file for taxes this year?

  • December 23, 2024
  • 1 reply
  • 0 views
No text available
    Best answer by Hal_Al

    Q. I made less than $600 from working and attend college. Do I need to file for taxes this year?

    A. No. The filing threshold is $14,600.

     

    The filing threshold for dependents is somewhat different.  A dependent  must file a tax return for 2024 if he had any of the following:

    1.          Total income (wages, salaries, taxable scholarship etc.) of more than $14,600 ($13,850 for2023).
    2.          Unearned income (interest, dividends, capital gains, unemployment, taxable portion of 529 distribution) of more than $1300 ($1250 for 2023). 
    3.          Unearned income over $450 and gross income of more than $1300.
    4.          Household employee income (e.g. baby sitting, lawn mowing) over $2600 ($4,600 if under age 18)
    5.          Other self employment income over $432, including money on a form 1099-NEC

     

    Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

    In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.

     

    If you are a student, over age 23, and are not claimed as a dependent by someone else (e.g. your parent) you may be eligible for the up to $1000 refundable American Opportunity (tuition) Credit. That credit is not dependent on having either kids or earned income. You must be at least a half time undergraduate student. There's even a loop hole available to claim the credit, if you are on scholarship.

    1 reply

    Hal_Al
    Hal_AlAnswer
    Employee
    December 23, 2024

    Q. I made less than $600 from working and attend college. Do I need to file for taxes this year?

    A. No. The filing threshold is $14,600.

     

    The filing threshold for dependents is somewhat different.  A dependent  must file a tax return for 2024 if he had any of the following:

    1.          Total income (wages, salaries, taxable scholarship etc.) of more than $14,600 ($13,850 for2023).
    2.          Unearned income (interest, dividends, capital gains, unemployment, taxable portion of 529 distribution) of more than $1300 ($1250 for 2023). 
    3.          Unearned income over $450 and gross income of more than $1300.
    4.          Household employee income (e.g. baby sitting, lawn mowing) over $2600 ($4,600 if under age 18)
    5.          Other self employment income over $432, including money on a form 1099-NEC

     

    Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

    In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.

     

    If you are a student, over age 23, and are not claimed as a dependent by someone else (e.g. your parent) you may be eligible for the up to $1000 refundable American Opportunity (tuition) Credit. That credit is not dependent on having either kids or earned income. You must be at least a half time undergraduate student. There's even a loop hole available to claim the credit, if you are on scholarship.