taxes....

[foothead]

My mom just told me she got a W-2 form for me, since I worked during the summer.

The problem is that we have no idea how to file it since I am a dependant.

I should be looking at getting some taxes back, since I made less than $3000 in the whole summer. Just out of curiosity, which ones will I be able to get back?

Thanks for any help, google wasn't a big help on this one.

 

[Rubber314Chicken]

If it has federal deductions on it you need to file. If not, then you don't have to file. At least that is why my dad has told me, and he is an accountant. FWIW my W2 never had more than $600 on it.

 

[foothead]

well, it seems that I will get a return if I file, so I am definitely doing that. Will help with my next PC upgrade.

Probably a fourth 28 inch monitor or a better video card.

 

[AmericanSensei]

If you have a W2 with federal witholdings, FILE your taxes...You DO NOT want to screw with the IRS, AT ALL. Granted a low earnings like that with a part time job is nothing to sweat over if you don't file, However many years down the line you want good habits with taking care of your taxes. Unlike consumer debt the IRS can make your life a living hell financially, They can and will take everything you own if you owe them money and don't file or make good on paying them back...If you end up owing rather than receiving.

 

[FlightSimBoy]

^What Sensei said.

I realized that doing taxes this year, that being low income has some benefits. I got a VERY nice return. Even better - I made a mistake on my original file. About 3 weeks after I got my return, I got a letter from the IRS stating I qualified for a deduction I didn't know about, and that they are sending it to me shortly... So, all in all, sometimes mistakes can be good. Some, however, can be very bad.

I'd go ahead and file taxes. I remember on my forms there were boxes to check that said "can someone else filing taxes claim you as a dependent?"

 

[cboucher]

I'm pretty sure that someone in your position can just file as "exempt" since your mom is claiming you as a dependent and you're still in school. You probably didn't make enough to have to pay anyways. You still have to file, though. No matter what you have to file.

 

[Calibound88]

you should be able to get some of your withholding back, but not social security or medicare.

 

[sniperviper21]

honestly foothead.

save the money you get back for emergency purposes...

 

[GhostGT]

honestly foothead.

save the money you get back for emergency purposes...

Like a backup power supply.

 

[alvino]

I just filed mine. Woo...getting my hard earned money back.

Oh and if you're not very familiar you can use TurboTax. You basically fill in all the necessary info and it'll fill it all into the proper forms for you to print for mailing or for e-filing. It'll also notify you of any credits or deductions you qualify for depending on your living situation and other things they ask you. It's pretty good software in my opinion.