Filing Taxes with a dependant who has a W-2

[HannaBelle]

I finally sat down to figure out my taxes today! I had been procrastinating b/c I was SURE we would owe, but we are getting a small refund! It is like a double bonus! Not only do I NOT have to PAY, I am getting something back. I want to file RIGHT NOW.

Here is my problem. My DS 16 had a part time job last summer and earned approximately $1,200.00. We are claiming him as a dependant. So, DH and I will file and claim him, then he files a 1040EZ, states someone else is claiming him as a dependant and he has to pay in $110ish.

Does this sound right? I guess to do not remember filing income taxes when I was in HS.

TIA!

 

[msmayor]

He shouldn't have to pay anything.

He's not entitled to claim an exemption for himself since you take it, but he's still entitled to the standard deduction (I think its $5,700). He should have zero taxable income.

He may not have to file at all. Were any taxes deducted from his pay? That would be the only reason to file; to get them refunded. If not, he should be well below the minimum threshold for filing.

 

[HannaBelle]

Thanks msmayor. I went back and re-read his 1040EZ forms and saw where I was missing something! He is getting $7 back and has finished his return.

 

[tink576]

$7 return is much better then having to pay $100