How much money do you have to make to file an income tax return?
My cousin has a W-2 from a former job that he doesn't think is enough to claim for income tax purposes. I told him that you have to claim it but he said that he thought the amount was $5000.00. Please help!
Asked By: Lena Al - 2/5/2010
Best Answer - Chosen by Asker
What really matters is all of his income combined (W-2s, unemployment insurance, bank interest) and how much he had withheld for taxes. Even if he only earned a relatively small amount, if he had taxes withheld from that W-2 he may want to file just to get any refund due on those taxes... More
Answered By: Lauren F - 2/5/2010
Additional Answers (3)
He should file no matter what the amount was if for no other reason than to get anything that was withheld.
Answered By: Rebecca K - 2/5/2010
Even the income is below the filing requirement, he should file tax return as he will get Making Work Pay credit... More
Answered By: Jss - 2/5/2010
Anyone can file. You do not have to make any money to file. You can file even if you make no money... More
Answered By: StephenWeinstein - 2/5/2010
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