17 yr earned 3k this summer, does she need to file tax form?

[Anonymous]

Minor child, we’re claiming her on our taxes. Earned 3k in 2022.
I’ve read conflicting information. And does she need to file for DC?

[Anonymous]

Were there taxes withhold? If so, you would want to get the refund.

From turbotax:

A minor who earns less than $12,950 will not owe taxes but may choose to file a return to receive a refund of withheld earnings.

• A child who earns $1,150 or more (tax year 2022) in "unearned income,” such as dividends or interest, needs to file a tax return.

• A minor who earns tips or makes more than $400 (tax year 2022) in self-employment income will have to pay Social Security or Medicare taxes, regardless of their total earnings.

[Anonymous]

When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

[Anonymous]

Anonymous wrote:Were there taxes withhold? If so, you would want to get the refund.

From turbotax:

A minor who earns less than $12,950 will not owe taxes but may choose to file a return to receive a refund of withheld earnings.

• A child who earns $1,150 or more (tax year 2022) in "unearned income,” such as dividends or interest, needs to file a tax return.

• A minor who earns tips or makes more than $400 (tax year 2022) in self-employment income will have to pay Social Security or Medicare taxes, regardless of their total earnings.

I read the same thing on Turbo tax. Was hoping an actual account or knowledgeable parent of working minor would respond.
DD worked in DC. A very small refund. For Fed, it says she owes $2xx. But we left EIC blank.

Thx GOP for getting rid of EASY form and making it so damn complicated!

[Anonymous]

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

+1 It's also good if you opened a Roth for them - the earned income is documented through the filing.

[Anonymous]

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

She didn’t have taxes taken out because she wanted more $ weekly.

[Anonymous]

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

? how can you file if you are a dependent? Our CPA files our minor son's returns ($3k) along with ours.

Are you claiming on the return that you are a dependent? Also, even if you are a minor, and not making much, social security and medicare taxes will be taken out. My son's w2 shows no federal taxes taken out, but social security and medicare taxes were.

If your income was above $12K, and/or you had unearned income, then you would file separately.

https://www.irs.gov/faqs/filing-requirements-status-dependents

[Anonymous]

Anonymous wrote:

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

+1 It's also good if you opened a Roth for them - the earned income is documented through the filing.

This is what we did for our kids. We matched their earnings with Roth contributions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

? how can you file if you are a dependent? Our CPA files our minor son's returns ($3k) along with ours.

Are you claiming on the return that you are a dependent? Also, even if you are a minor, and not making much, social security and medicare taxes will be taken out. My son's w2 shows no federal taxes taken out, but social security and medicare taxes were.

If your income was above $12K, and/or you had unearned income, then you would file separately.

https://www.irs.gov/faqs/filing-requirements-status-dependents

This is so funny to me. Tell me you never had a job until college without saying it. Who is cutting your son's w2 with no federal taxes taken out, your family office?

Of course you claim you are a dependent. There's a box to tick - can anyone else claim you as a dependent? Yes. Then you get 95% of your money back because everything you paid in is under the exemption. Being a dependent doesn't erase the exemption. 95% of teens are working somewhere like the grocery store, fast food, or movie theater, and yes they are having federal taxes withheld.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

? how can you file if you are a dependent? Our CPA files our minor son's returns ($3k) along with ours.

Are you claiming on the return that you are a dependent? Also, even if you are a minor, and not making much, social security and medicare taxes will be taken out. My son's w2 shows no federal taxes taken out, but social security and medicare taxes were.

If your income was above $12K, and/or you had unearned income, then you would file separately.

https://www.irs.gov/faqs/filing-requirements-status-dependents

Because that's how the tax code is written!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

? how can you file if you are a dependent? Our CPA files our minor son's returns ($3k) along with ours.

Are you claiming on the return that you are a dependent? Also, even if you are a minor, and not making much, social security and medicare taxes will be taken out. My son's w2 shows no federal taxes taken out, but social security and medicare taxes were.

If your income was above $12K, and/or you had unearned income, then you would file separately.

https://www.irs.gov/faqs/filing-requirements-status-dependents

This is so funny to me. Tell me you never had a job until college without saying it. Who is cutting your son's w2 with no federal taxes taken out, your family office?

Of course you claim you are a dependent. There's a box to tick - can anyone else claim you as a dependent? Yes. Then you get 95% of your money back because everything you paid in is under the exemption. Being a dependent doesn't erase the exemption. 95% of teens are working somewhere like the grocery store, fast food, or movie theater, and yes they are having federal taxes withheld.

Oh, I worked my way through college, but like I said, federal taxes don't get take out if you enter your w4 correctly. Medicare and social security taxes can't be refunded.

My point was that if you are dependent, and you did not make more than $12K, AND you didn't have any federal taxes taken out (you can see it on the w2), then why file the taxes?

[Anonymous]

Anonymous wrote:Were there taxes withhold? If so, you would want to get the refund.

From turbotax:

A minor who earns less than $12,950 will not owe taxes but may choose to file a return to receive a refund of withheld earnings.

• A child who earns $1,150 or more (tax year 2022) in "unearned income,” such as dividends or interest, needs to file a tax return.

• A minor who earns tips or makes more than $400 (tax year 2022) in self-employment income will have to pay Social Security or Medicare taxes, regardless of their total earnings.

OP here. My DD will not get a tax refund as she didn’t have enough withholdings. Sounds like she doesn’t need to file?

[Anonymous]

Here’s what TT says:
Earned income

A minor who may be claimed as a dependent has to file a return once their income exceeds their standard deduction. For tax year 2022 this is the greater of $1,150 or the amount of earned income plus $400 up to the full standard deduction of $12,950.

As an example, a 15-year-old who works after school and earns less than $12,950 would owe nothing in taxes. Even so, if an employer withheld taxes from her paycheck, she'll have to file a tax return to obtain a refund.

[Anonymous]

Anonymous wrote:Here’s what TT says:
Earned income

A minor who may be claimed as a dependent has to file a return once their income exceeds their standard deduction. For tax year 2022 this is the greater of $1,150 or the amount of earned income plus $400 up to the full standard deduction of $12,950.

As an example, a 15-year-old who works after school and earns less than $12,950 would owe nothing in taxes. Even so, if an employer withheld taxes from her paycheck, she'll have to file a tax return to obtain a refund.

I guess it means she doesn’t need to file unless fed tax taken out
BUT I would still file. It should be free via TT and may come in handy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When I was that age I always got money back when I filed, even though I was a dependent. If they have a w-2 its likely in their best interest

? how can you file if you are a dependent? Our CPA files our minor son's returns ($3k) along with ours.

Are you claiming on the return that you are a dependent? Also, even if you are a minor, and not making much, social security and medicare taxes will be taken out. My son's w2 shows no federal taxes taken out, but social security and medicare taxes were.

If your income was above $12K, and/or you had unearned income, then you would file separately.

https://www.irs.gov/faqs/filing-requirements-status-dependents

This is so funny to me. Tell me you never had a job until college without saying it. Who is cutting your son's w2 with no federal taxes taken out, your family office?

Of course you claim you are a dependent. There's a box to tick - can anyone else claim you as a dependent? Yes. Then you get 95% of your money back because everything you paid in is under the exemption. Being a dependent doesn't erase the exemption. 95% of teens are working somewhere like the grocery store, fast food, or movie theater, and yes they are having federal taxes withheld.

Yo. If you’re going to snark at least be accurate. Anyone that has ever had a job knows there is a box on the W4 that you tick to claim tax exempt from Federal taxes.