I have a couple questions regarding the tax filing procedure. I am still a dependent on my parents, and my parents normally do the taxes each year. However, last summer 2014 I worked a summer intern at a hospital. My total income for the internship was $11100. After taxes, I made around $7700 . Basically my question is whether I need to file taxes separately, or can my parents still take care of it. For instance, can my parents still claim me as a dependent? Also, am I eligible for a tax refund? Over the summer, my total federal withholding was around $1600.
Yes, you need to file a tax return.
For a single individual under the age of 65 who is a dependent, the filing threshold is $6200 or more of earned income, and your income is above that.
Since your parents claim you as a dependent - you cannot claim an exemption for yourself, but as Joe said, you'll still have the standard deduction.
It's going to depend on more details like your age, whether or not you are a student, do you still live at home, etc.
The IRS has a calculator to help determine your status as a dependent.
You will need to file a tax return regardless because your earned income was over the standard deduction amount.
I am not married and 21 yrs old and a college student in NYC living with my parents. Feb 15, 2015 at 19:05
If they paid for more than half your support, they can claim you as dependent. Use the calculator to make sure, though. When you file your tax return, I predict a refund.– RockyFeb 15, 2015 at 19:12
Or you could just ask if they are claiming you as a dependent (assuming they are doing it correctly)– JohnFx ♦Feb 16, 2015 at 23:12
As a dependent, you lose your 'exemption' but not your standard deduction. For a single person, that's $6200, leaving $4900 to be taxed at your rate, 10%. I predict a federal tax bill of $490, and you've already paid $1600, so I smell 'refund'.