Why do I owe money this year when I am being claimed as a dependent

It depends on how much tax was withheld from your pay throughout the year and how much unearned income you had.  If your earned income (from a job) was below $12,400, you will not have any taxable income unless you have unearned income. If you had scholarship money that was not used for qualified education expenses, it will be unearned income.

If you have unearned income that exceeded your earned income plus $350 (up to 12,400)  you will be taxed on everything over that amount.  If your withholding does not cover the tax due you will owe at tax time.

Here is an example to help explain. 

You have earned income 11,650 you would add 350 to total 12,000 to reach the standard deduction for a dependent. 

You have unearned income (dividends, interest, unused scholarship money) that is 11,000.  So your total income is 22,650 then subtract the standard deduction (12,000) leaves 10,650 of taxable income. 

At 12% the tax would be $1278.  So if your withholding was below $1278 you would owe taxes. 

Here is a worksheet to help you figure your dependent standard deduction.  Use table 8.  

To help reduce this be sure to use your scholarship money for qualified education expenses.  Those expenses that are required of every student in the course.  

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