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How do minors (16,17) file tax returns properly? |
I am currently 16 (17 on April 19). I was wondering how I am suppose to properly fill out my tax return for the 2006 year. I am living with my father. I make approximately 9,000 per year. I work two jobs, Publix and Cracker Barrel. Also, don't minors get a federal refund? I believe the process for minors is rather simple but I would like to get it correct so I don't have the IRS tracking me down before I even turn 18! Best Answer will be awarded to the person that answers the question thoroughly and completely. You can download form 1040EZ at irs.gov - there's a link for it on the start page. Fill it out and mail it in - the address is on the instructions, which you can also download. You can efile if you want to - there are links for that on irs.gov. You can probably still be claimed as a dependent by your dad, especially if you are banking some of your income for college or later needs, and with that income at 16, I sure hope that you are. If your dad can claim you, when you get to line 5 on the 1040EZ check the box that says YOU and follow the instructions from there. With income of $9000, whether or not your dad can claim you, you'll end up paying some tax so won't get everything back that was withheld for federal income tax. Whether you get a refund depends on whether more money was withheld than the total tax you owe. Go to the post office and get a 1040EZ form. It is self explanitory, but idf you need help, ask your dad or other adult to help. The form is only one page. You can complete form 1040EZ, when you get to line 5 and it asks for you to check the box if someone else can claim you check yes (your father will be claiming you) and put $5,150.00 in box 5. Here is the link to the form and instructions to the 1040EZ http://www.irs.gov/pub/irs-pdf/f1040ez.p... http://www.irs.gov/pub/irs-pdf/i1040ez.p... If you have a bank account have your refund direct deposited to you account filling in the bank information Mail the return in, it will take 4 to 6 weeks to process Internal Revenue Service 1-800-829-1040 Age has nothing to do with the filing of a return. If you have income, you file a tax return. Your refund will depend on how much income you have vs. the withholding your employer took out. Just complete your return - it's easy. Don't forget about the state tax return. DON'T claim yourself because your father provides you with most of your support and the exemption will mean more to him. BTW, we have clients that have kids that are under 10 filing a tax return based on dividend income and stock sales. As stated earlier, the process depends on your income, not your age. If you have tips that you didn't report to your employer, or if there's an amount in Box 8 of your W-2, you can't use the 1040EZ or 1040A. You must use 1040. Otherwise, earlier answers are correct. www.irs.gov, Forms & Publications, 2006 Form 1040EZ Instructions, page 12, "Tips" Kathy C, CPA |
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