How much does an student have to make before filing income tax return?

Q) How much does an student have to make before filing income tax return?

A) Whether a student has to file an income tax return depends on their income, filing status, and whether they can be claimed as a dependent on someone else’s tax return.

For tax year 2023, the income thresholds for filing a tax return are as follows:

  • Unmarried dependent students: Must file a return if their unearned income (such as interest and dividends) was more than $1,150 or their earned income (such as wages from a job) was more than $12,950.
  • Married dependent students: Must file a return if their combined income was more than $25,900.
  • Unmarried independent students: Must file a return if their earned income was more than $12,950.
  • Married independent students: Must file a return if their combined income was more than $25,900.

If a student can be claimed as a dependent on someone else’s tax return, they may not have to file a tax return even if their income exceeds the above thresholds. However, it is always a good idea to check with the IRS to see if you are required to file a return.

Here are some additional things to keep in mind:

  • Even if you are not required to file a tax return, you may still want to do so if you have any tax credits or deductions that can reduce your tax liability.
  • If you do file a tax return, you may be eligible for a refund if you had taxes withheld from your paycheck.
  • You can file your tax return online or by paper. If you file online, you can use the IRS Free File program to file your return for free.
  • The deadline to file your tax return for tax year 2023 is April 18, 2024.

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