will my 14 year old get a refund from summer job?
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Anonymous
| My kid worked last summer and made about $1,300. Her W-2 came in the mail the other day. I know she doesn't have to file taxes bc she doesn't make enough, but how do I determine if she'd get a refund? Trying to determine whether it's worth it to file. |
Anonymous
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Do you have tax software?
If her employer has a good tax accountant she probably didn't have a lot withheld. I did a dry run with my college student on his taxes. On about $5K of summer earnings, his refund is less than $100. It's worth applying for but it's not critical. If your kid made $15 an hour, it's possibly worth their time. But it's also good practice for being a grownup. You can also help her start a Roth IRA that can grow tax free (up to the amount she earned). |
Anonymous
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The W-2 should indicate if federal and/or state taxes were withheld (they probably were unless she gave them a W-4 saying she is exempt from withholding).
If they were she should file because she likely owes no taxes and will get a refund of whatever was withheld. |
Anonymous
+1 both my kids file and get money back. Teen DC who works a PT job gets money back from the state. The other gets it back both federal and state because their summer internship paid a lot, and they were taxed like they were making $60/hour per year, but in reality only got paid for 10 weeks at that amount. So, they get both back. |
Anonymous
| My kid always files and has always gotten a few hundred dollars in a refund. |
Anonymous
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You look at the W-2
There’s a box that indicates how much she paid in taxes Take that number and subtract zero that’s how much she’ll get back |
Anonymous
| Have her file, then you can start a ROTH IRA for her with $1300. |
Anonymous
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Op here. DH isn’t sure it’s worth it bc we’ll have to pay to file. It’ll eat up whatever she would get back.
Is there a free way to file? |
Anonymous
Do you pay someone to do your taxes? If so, they might not charge for your kid’s return. My tax lady doesn’t. She knows my son will be a future client of hers and it hardly takes more than a few minutes to file his. |
Anonymous
Um, its free to file taxes. |
Anonymous
Google your states free tax filing software. Usually you can use it to figure out how much she'd get back and you don't have to pay anything unless you actually file them (and at her income she probably doesn't have to pay, period). |
Anonymous
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Sorry, we usually for ours through TurboTax,
So it’s not free. |
Anonymous
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Here's an article about how to file for free (gift link) https://wapo.st/4t9GQtn
Assume she will get back anything withheld. You can see federal withholding in box 2 and state in box 17 of the W2. Make sure if she files that she checks the box saying she is being claimed as a dependent. |
Anonymous
You can file up to 5 returns (same state) on TurboTax premium which you can get at costco for $90(?). My kids' refunds are more than that. |
Anonymous
Most people do not need premium. Deluxe still gives you 5 returns and is $40. You can just print it and paper file to avoid the filing costs or type it in to one of the free options |