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April 5, 2021
Question

Is my blended tax rate based on my parents income as a dependent?

  • April 5, 2021
  • 2 replies
  • 0 views
was set to get a small refund then it asked for my parent's taxable income and now says I owe a fairly large amount. Why am I being taxed at such a high percentage when my taxable income is only 9,600

2 replies

April 5, 2021

if you are subject to "kiddie tax' then yes, you are taxed at your parent's rate.  

 

Is part of that $9600 from other than W-2 wages? does it exceed $2200?

Employee
April 5, 2021

How old were you on 12/31/2020?  Were you a full time student?

kory77212Author
April 5, 2021

21, full time student