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Hello and thank you for using Just AnswerIf you were not a fulltime student your parents can not claim you if your income was over $3750 (this is the personal exemption amount).You do have to file a return if you had Gross Income of at least $9500. Of course if you did, then they would not be able to claim you as a dependent.As a dependent if you had earned income of more than $5800 you are required to file a return. Again if you earned that much they cannot claim you.If you only had Unearned Income more than $950 you are required to file also.
If you as a dependent had Earned and Unearned income then you are required to file a return by calculating based on both but the botXXXXX XXXXXne will be around $5800 income. Just because you are a dependnet does not mean yo are exempt from filing a return.
Hmm, I'm getting most of that
Just to clear up my basic understanding:
The folk wisdom seems to be that you don't need to do your own forms as long as you're someone's dependent.
It all depends on how much you get and from what sources
If I'm reading you right, does dependent status have nothing directly to do with whether you file your own forms?
In a way, your personal exemption is either your own or the person that pays for you to survive and that you live with
But if you have income you still may be required to file
Even dependents that are fulltime students and claimed by their parents may still need to file but they cannot use their own personal exemption, the parent gets to use that
You need to look to your income
If you made more than $3750 your parents can not claim you any way. You are not allowed to allow them to even if you still live with them
Does that $3750 include income from them?
(i.e., income they paid me for living expenses)
You cannot give permission to someone to claim you and they cannot give up the dependent exemption to you. The rules must be followed and those start with age, residence, income and then there are exceptions and conditions.
To determine your situation, you need to start with your income (we already know your age) if you made more than $3750 you can not be a Qualifying Relative of your parents under dependents.
Right, of course. So what I'm asking is: does the $3750 maximum include money they are giving me now?
Please come back anytime you have a question and thank you for the accept.