Wednesday, July 28, 2010

Could someone please advise on this tax issue?

My 17 years old son worked and earned $3100 during 2007. To my understanding he does not have to file tax because his earned income was less than $5,350. If I file my return as a Head of Household do I have to show his earning where and how?Could someone please advise on this tax issue?
His earnings do not go on your return. While he may not have to file taxes, if he had federal or state taxes withheld from his paycheck, if he files a tax return, we will have this money refunded to him. he should qualify to file with any of the free software available on the irs.gov website! And he is still your dependent, he can not claim himself, and you still get to claim as head of household!!Could someone please advise on this tax issue?
no you dont.
No, you don't show his earnings on your return.





If he had anything withheld for federal income tax (box 2 of his W-2) he can file and get a refund.
No.





When you think about it, isn't it a disgrace that people earning just over $5000 are paying taxes??





And that people earning 31,000 are considered Rich!
He does not have to file and you do not have to report it either, although if he paid into federal tax it may be worth it to file to get his money back. That is if you file yourself and do not pay anybody. He would only claim his standard deduction which would put his tax liability below zero, and you would still claim his personal exemption.
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