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Any tax experts out there?


Grits and Shins
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My 15 year old is toying with the idea of employment. It will obvioulsy be a part time min wage type job.

 

I presume she will file a tax return just like anybody else that recieves a wage?

 

I will still be claiming her as a dependant, what impact does this have on my return? Her return?

 

She is taxed at the child tax level until her age of 16. It affects your return NONE. Her earnings do not impact your return.

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My 15 year old is toying with the idea of employment. It will obvioulsy be a part time min wage type job.

 

I presume she will file a tax return just like anybody else that recieves a wage?

 

I will still be claiming her as a dependant, what impact does this have on my return? Her return?

Absolutely none. She will likely not make nearly enough to owe anything. There is specific instructions regarding how many dependents you can claim with respect to claiming yourself and one of those says that nobody is claiming you as a dependent. Obviously she will not want to claim herself accordingly. She should put EXEMPT in the appropriate box on her W-2 because she is a full time student and did not owe any taxes last year. That will mean that they don't take any withholding.

 

You continue to file as if nothing changed.

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Absolutely none. She will likely not make nearly enough to owe anything. There is specific instructions regarding how many dependents you can claim with respect to claiming yourself and one of those says that nobody is claiming you as a dependent. Obviously she will not want to claim herself accordingly. She should put EXEMPT in the appropriate box on her W-2 because she is a full time student and did not owe any taxes last year. That will mean that they don't take any withholding.

 

You continue to file as if nothing changed.

 

:D

 

Thanks.

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