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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13579
Experience:  15years with H & R Block. Divisional leader, Instructor
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Extremely basic question. As I understand it, if my parents

Resolved Question:

Extremely basic question.

As I understand it, if my parents declare me as a Qualifying Child, I don't have to file my own income tax form (e.g. 1040). This year, I'm 24, so they'll have to declare me as a Qualifying Relative. I still live entirely on their income. As a Qualifying Relative, do I have to file my own form this year?
Submitted: 4 years ago.
Category: Tax
Expert:  Robin D. replied 4 years ago.

Robin D :

Hello and thank you for using Just Answer
If 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.

Robin D :

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.

Customer:

Hmm, I'm getting most of that

Customer:

Just to clear up my basic understanding:


Customer:





The folk wisdom seems to be that you don't need to do your own forms as long as you're someone's dependent.






Robin D :

Not true

Robin D :

It all depends on how much you get and from what sources

Customer:























If I'm reading you right, does dependent status have nothing directly to do with whether you file your own forms?
























Robin D :

In a way, your personal exemption is either your own or the person that pays for you to survive and that you live with

Robin D :

But if you have income you still may be required to file

Robin D :

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

Robin D :

You need to look to your income

Robin D :

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

Customer:

Does that $3750 include income from them?

Customer:

(i.e., income they paid me for living expenses)

Robin D :

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.

Robin D :

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.

Customer:







Right, of course. So what I'm asking is: does the $3750 maximum include money they are giving me now?








Expert:  Robin D. replied 4 years ago.
No, none of the money they give you is included in your calculations. Just what you earn or receive from investments
Customer: replied 4 years ago.
Ah, OK. So would it be accurate to say that your dependency status can decide who gets to claim your personal exemption, but it doesn't directly decide who has to file a form?
Expert:  Robin D. replied 4 years ago.
Correct
Robin D. and 2 other Tax Specialists are ready to help you
Customer: replied 4 years ago.
OK, cool. Believe it or not, that random, abstract question was the main thing I was looking for ;) (long story). Thanks!
Expert:  Robin D. replied 4 years ago.

Please come back anytime you have a question and thank you for the accept.