Question

Do i have to file my taxes if i made less then $9000?

First of all i am young and know nothing about taxes... My first mistake is that i didn't take out federal taxes, i didn't do it on purpose, its just something i messed up when filling out my employment papers. also will i get any money back since i didn't do this? finally, i got a check back from school last spring, do i have to turn that in when i file my taxes?

4 years ago - 3 answers

Best Answer

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If you cannot be claimed as a dependent by another taxpayer and your total income for 2009 was less than $9,350 there's no need to file. If you can be claimed as a dependent, the filing requirement drops to $5,700 for earned income or $950 for unearned income, so in that case you would have to file and would have to pay when you filed.

The tuition refund may or may not have any tax consequences. If you paid the tuition yourself from your own funds it's not taxable. However if you paid the tuition using non-taxable grants or scholarships then the refund is taxable as ordinary income.

If you did pay tuition in 2009 out of your own funds (that was not later refunded to you) you may be able to claim one of the education credits. If you qualify for the American Opportunity Credit, that could be worth up to $1,000 as it is partially refundable. See IRS Pub 970 for further information on that. This link is to the 2008 version: www.irs.gov/pub/irs-pdf/p970.pdf It does not include information about the AOC but the 2009 version, which is due out shortly, will cover the AOC.

4 years ago

Other Answers

you have to file

by PaulD - 4 years ago

your personal exemption and standard deduction is $9350 and if you had no income taxes withheld, your are in luck, no need to file
depending on your age and the low income, you might be eligible for EIC

by tro - 4 years ago