Currently I am unemployed and I haven't done my taxes since 2015. I am starting my new job in January. Should I wait after I have money, to do my taxas? What should I do?

Forum|Forum|7 years ago
June 1, 2019
7 replies
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I Jumped jobs because I was looking for full time. I have a job that is full time but I am unemployed currently and on a negative budget. I didn't do 2015 tax refund and so now I do not know what the next step it is I should take. I need guidance on to what I should do next?
Thank-

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Best answer by Texas Roger

Based on the question and comments, you are not required to file a tax return for either 2015 or 2016 and would not receive any benefit from doing so since you were under the age of 24 at the end of 2016 and would not qualify for the refundable portion of the AOC without earned income.

T

Texas Roger

Employee

Did you have any income from any sources including unemployment compensation in either 2015 or 2016? If so, what type and how much income in what year?

L

Lamar11Author

Employee

The only source of income I had was from my student loans, I used that for living and my friend helped me but that was on The side for other reasons.

T

Texas Roger

Employee

If you had no income other than from student loans in either 2015 or 2016, you are not required to file a tax return for either year. If you were age 24 or older and a student either year, you might be eligible for the refundable portion of the American Opportunity Credit which you must file a tax return to get. Were you a student either year?

L

Lamar11Author

Employee

I was a student for both years but I am not over 24.

T

Texas Roger

Employee

If you are not 24 or over, you would not qualify for the refundable portion of the credit without having earned income. Were you claimed as a dependent by a parent in either 2015 or 2016?

L

Lamar11Author

Employee

I was not claimed as a dependent from my parents in 2016 but I was claimed in 2015.

T

Texas RogerAnswer

Employee

Based on the question and comments, you are not required to file a tax return for either 2015 or 2016 and would not receive any benefit from doing so since you were under the age of 24 at the end of 2016 and would not qualify for the refundable portion of the AOC without earned income.