Under tax law, as a student living at home, you are your parents' dependent for income tax purposes regardless of your income.
Therefore, you are their dependent and they will get that exemption. You, however, can file your tax return and, assuming you have earned income (from a job) that you had income taxes withheld on, you will receive a refund. If you made less than the standard deduction for a single person, you will get all of your taxes withheld refunded to you.
You must file a return if you had over just the minimum amount of income, regardless of your age. Read the discussions on that topic - who must file - here or at IRS.gov.
Regardless of it you must, generally, especially if you have a very small income, even if it isn't required for you to file, it will be beneficial, so you should. (And obviously if you worked and received a W-2 so you had tax or such withheld, you want to file to get the refund!)
If you are claimed as a dependent by someone else, you cannot claim the exemption for yourself too. And in fact, then the others (who presumably have a higher tax bracket than you), will probably have to pay (or you would have to pay) at the higher bracket.
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Related Questions
What does it mean to be a commuting student?
A commuting student (as compared to a resident student) lives off campus (frequently with parents) and commutes to college or university.
Can comprehensive schools force a student to sit a GCSE exam if the student doesn't want to?
no, because students have rights even though they should be and the school will have to force, the recommendations are that we should. these tests are for our lives to be better
Why should you be a teacher?
a teacher molds the minds of the students. a teacher makes a great impact to the lives of the students entrusted to him. without a teacher no one can become a professional. a teacher also is imparting to the student what the student should know and should not know at times.
Can adult children kick their parents out of their lives?
Yes, but it should only be done as a last resort.
How do you get two teachers together?
If are a student you should not try to get two teachers together at all. You are in school to learn, and you should not get involved in your teacher's personal lives at all.
Should a married father of one who lives in parents home get out of bed and work and participate in life?
Of course!
Why should children be able to choose their own bed time?
Because there parents don't own their lives!
What if she is 18 but still lives at home and is a full time student does her parents still have legal authority?
It doesn't matter the age, whoever owns the house has legal authority.
Should children choose the career which their parents force them to pursue?
Only if they wish to be extremely unhappy for the rest of their lives.
If the noncustodial parent lives with his parents what are the chances he will get joint custody?
Should not affect it, and besides, it's for the kids benefit.
Does Miley Cyrus live with her parents?
Yes, she lives with her parents
What is the definition of a resident pupil of a school district?
Generally speaking, a student attends a school within the district in which the student lives. That is a clear definition, however, various circumstances can make this more complicated. Such an instance might be that a student starts school in the proper district. During the school here the student and the parents move to another part of town. In many cases the student will be allowed to finish the school year in the school where the student once lived.
Did Aristotle term clear and ordered thinking classical or reason?
Reason. Aristotle was a Greek philosopher. He was a student of Plato. Aristotle taught that people should live lives of moderation and use reason in their lives.
Is marriage without consent of parents goods?
If your parents disapprove of the marriage, it is not a good thing. However, this should not be a deciding factor in your lives, as it is your relationship and your marriage, it is just a factor that you should consider when making major life decisions.
Who lives with Taylor Swift?
her parents
Who does Debby Ryan lives with?
With her parents
Does xavi lives with his parents?
land
Can your parents file for custody of your son if he lives with them?
Yes. If he lives with them they should have legal custody so they can enroll him in school and obtain medical treatment.Yes. If he lives with them they should have legal custody so they can enroll him in school and obtain medical treatment.Yes. If he lives with them they should have legal custody so they can enroll him in school and obtain medical treatment.Yes. If he lives with them they should have legal custody so they can enroll him in school and obtain medical treatment.
Would a low income full time college student be eligible for section 8 housing assistance?
That depends on who lives in the household, how old you are, if your parents are income eligible for section 8 as well.
Where does Joe Jonas lives?
joe jonas lives in hollywood with brothers and his parents
Can illegal immigrant children go to school in the USA?
Yes, public schools do not ask citizenship questions, just residentual questions, to prove that student lives in their district. If a student lives in the schools district that public school is required to serve that student.
Can a 16yr old live with her 36yr old boyfriend when shes pregnant?
If her parents give her permission to. Otherwise, she lives where the parents say she lives.
What is University of Plymouth Student Union's motto?
University of Plymouth Student Union's motto is 'Transforming lives through experience'.
What is the plural possessive of lives?
The possessive form of the plural noun lives is lives'.Example: My parents moved to a warm climate for their lives' ease.
What happen to the children after the holocaust?
they went on with their lives . trying to survive without their parents in their lives
