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Do you need to file an income tax return if you made zero money and are a full-time student?
If you really, really made zero money, then probably not.
Unfortunately, when people say this, they often neglect to think of all the ways you can make money. Did you earn interest on a savings account? Did you sell any stocks, even if you sold them at a loss? Did you sell stuff for a profit on ebay? Did you take any money out of a tax-deferred account such as an IRA? Did you make any money baby-sitting or mowing lawns?
And don't forget that non-money compensation is also taxable. For example, if you washed dishes in return for a meal, if you sold your cow for a sack of magic beans, if you worked in a coal mine to pay off the debt your grandfather owed the mine owner, if a creditor gave up trying to collect a bad debt from you....
What else can I help you with?
If you are a student do get more back on your tax return?
As a full time student in Canadsa you get to write off tuition and you probably didn't make much money so on avaerage in relation to your income, yes.
If your spouse files ahead of you and uses money that are supposed to be split?
You would file your income tax return correctly and send it in. It is possible that you may have to file your correct income tax return in the mail as a paper income tax return.
Why purchase return is called income?
because when a purchase is returned money comes in
Can you file taxes on money you spent in jail?
Money that you spend in jail would not be reported on your income tax return.
Do you have to report money pulled out of 401k in nov 2009 on 2009 return or can you report it on 2010's return?
You have to report this on your 2009 Return. You cannot decide which year you wish to report income. It must be filed on the return for the year in which it was withdrawn or in which income was earned.
How do you get a loan with no co-signer no job and bad credit since this is why most of us are in school in the first place?
It is clear to me that no one is thinking. How am I to go to college fulltime and have a fulltime job. If I had a fulltime job and could handle fulltime student status, I would not need your money. This has got to be the silliest thing I have ever heard. You can borrow up to $35,000 for education, but you have to have a job. If I had a job, I would not be in school and I would not need your money. What a joke.
How do you get a loan with no co signer no job and bad credit since this is why most of us are in school in the first place?
It is clear to me that no one is thinking. How am I to go to college fulltime and have a fulltime job. If I had a fulltime job and could handle fulltime student status, I would not need your money. This has got to be the silliest thing I have ever heard. You can borrow up to $35,000 for education, but you have to have a job. If I had a job, I would not be in school and I would not need your money. What a joke.
What is the maximum income a full time student can earn and still be taken as a dependent on a federal income tax return?
If the student is under 24 at the end of the year or is totally and permanently disabled, there is no limit. But the student must not provide more than half of his/her own support. Money deposited in a savings account (for example) does not count as support. Otherwise, the student's gross income cannot exceed $3500 and the taxpayer claiming the student on their return must provide at least half of the student's support.
If you are a student do get more back on your tax return?
As a full time student in Canadsa you get to write off tuition and you probably didn't make much money so on avaerage in relation to your income, yes.
Can you return unused student loan money?
Yes, you can return unused student loan money to the lender to reduce the amount you owe. Contact your loan servicer for instructions on how to return the funds.
How can I return unused student loan money?
To return unused student loan money, contact your loan servicer and request to make a payment for the amount you want to return. They will provide you with instructions on how to do so.
Do federal student loans count as income for tax purposes?
No. Student loans are borrowed money, and is not considered "income;" therefore, you do not include them on your taxes.
Can you get federal money back if you have no income but are a full-time student?
Yes.
Is there free Obama stimulus money for low income home improvements?
Not on the federal income tax return.
How much money will you get in return in your income tax?
It depends on how much you make.
Is borrowed money taxable in US?
No the borrowed money would not be taxable income to you that you would report on your 1040 federal income tax return as income in the year that the amount is borrowed.
If your spouse files ahead of you and uses money that are supposed to be split?
You would file your income tax return correctly and send it in. It is possible that you may have to file your correct income tax return in the mail as a paper income tax return.
