Do i have to file taxes if I am a dependent?

Do i have to file taxes if I am a dependent?

Postby tristan » Wed Mar 09, 2011 3:48 pm

I am 18-year-old college student and my father filed me as a dependent. I work as a nanny and my employer put down that she paid me $5,000 on her taxes. She pays me in cash, and we are both assumming this is about the right amount. My father said that I don't need to file a federal tax form because I made less then $5,700 according to what my employer wrote down. Is this correct? That's what it says in the IRS book he showed me, but I thought I heard otherwise from somewhere else. I don't want to get in trouble with the IRS
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Do i have to file taxes if I am a dependent?

Postby seosaph80 » Wed Mar 09, 2011 3:49 pm

you don't keep track of how much you are actually paid? what if the parents are lying about how much they paid you to get a bigger tax deduction

if they gave you a 1099, then you owe at least $750 in tax for self-employment taxes - your father is wrong about not owing taxes
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Do i have to file taxes if I am a dependent?

Postby wildon19 » Wed Mar 09, 2011 3:51 pm

You don't have to file taxes .... Your dad is right but you can if you want as long as you put down that someone else claimed you.
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Do i have to file taxes if I am a dependent?

Postby shonn59 » Wed Mar 09, 2011 3:53 pm

Since you were paid cash, sounds like they didn't take anything out, even social security. So your dad isnt correct, the filing limit for that kind of income is four hundred dollars for the year. You won't owe federal income tax, but will owe something called self-employment tax, for social security ane medicare. You'll owe around $700. That's not because you're a dependent, but because no ss and medicare were taken out. If they had been, you wouldn't have to file.

The $5700 limit to have to file is if they took out tax and gave you a W-2. And if you worked in their home, that's how you SHOULD have been paid, but that's another question.
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