answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

โˆ™ 2014-07-07 15:53:24
This answer is:
User Avatar
Study guides

US Civil War

20 cards

Why were poll taxes created

What is a graduated income tax

What sparked the beginning of the Civil War

When Abraham Lincoln was elected president what was the result for the southern states

โžก๏ธ
See all cards
3.7
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
107 Reviews

Add your answer:

Earn +20 pts
Q: Should a 17-year-old student who lives at home file taxes on his own or with his parents?
Write your answer...
Submit
Still have questions?
magnify glass
imp
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


Can adult children kick their parents out of their lives?

Yes, but it should only be done as a last resort.


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.


Why should children be able to choose their own bed time?

Because there parents don't own their lives!


Should a married father of one who lives in parents home get out of bed and work and participate in life?

Of course!


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.


Does Miley Cyrus live with her parents?

Yes, she lives with her parents


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.


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.


Does xavi lives with his parents?

land


Who does Debby Ryan lives with?

With her parents

People also asked