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Paul Taliefero
Paul Taliefero, Enrolled Agent
Category: Tax
Satisfied Customers: 239
Experience:  19 years of experience in income taxes
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18 year old student tax liability

Customer Question

What is the tax liability for an 18 year old who lives at home and works part time?
Submitted: 13 years ago.
Category: Tax
Expert:  T. R. Miller, The SunTaxMan replied 13 years ago.
If 18 year old receives a W-2, this income needs to be acted on. If it is sufficient to cross the threshhold for minimum filing requirement a return must be filed - federal and state.

If that W-2 has withholding, there is possiblity that because of income level, it could all be refunded. The only way to obtain a refund is to file a return.

If this income has been reported on a Form 1099, A Schedule C should be used to report the income and show any expenses related to the production of that income. They will then be required to pay Self-Employment tax, (Schedule SE) if the net profit amounts to $400.00 or more.

I am assuming this 18 year old is your child/dependent. If this person can be claimed on parent's return as a dependent, the 18 year olds' tax return should not claim a personal exemption.
Expert:  Paul Taliefero replied 13 years ago.
What is the 18-year old's income, and is this person married?