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If I open a $500 for my daughter who is 17 and earned $600

last year, will she need...
If I open a $500 for my daughter who is 17 and earned $600 last year, will she need to file a tax return to report the IRA contribution if she had $0 tax withheld from her check?
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Answered in 28 minutes by:
4/1/2013
Lev
Lev, Tax Advisor
Category: Tax
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LEV :

Hi and welcome to Just Answer!
There is no need to file tax return to report IRA contribution.
Because with only $600 in earned income - your daughter does not have any income tax liability - she would not be able to deduct her IRA contribution anyway - so there is no reason to file a tax return unless she want to claim a refund for income tax withholding.

Lev
Lev, Tax Advisor
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