If I get a job will that affect my parent's income tax return?
I'm 16 and planning on working at Dominos (pizza store) for 7.40$ hr, 20 hours a week. Will this lower their income tax return? If i make about $6000.00 a year, will that exclude my parents from the benefits of having an dependent?
Asked By: - 12/2/2010
Best Answer - Chosen by Asker
No. If you make enough income you will need to file your own tax return. But this has no effect on your parents.
Answered By: cainvest1 - 12/2/2010
Additional Answers (5)
nope it only affects you
Answered By: tro - 12/2/2010
A 16 year old living at home with his parents qualifies the parents for all available tax benefits unless the 16-year old makes so much money that he pays for over half of his support. Since you are just now starting to work, for sure you are not providing over half of your own support.
Answered By: ninasgramma - 12/2/2010
Not unless you make so much that you provide over half of your own support. $6000 or so won't do that.
Answered By: Judy - 12/2/2010
No it doesn't affect them. No your income doesn't disqualify since you are under 18.
Answered By: the kid - 12/2/2010
Just make sure and fill out the W-4 the simple way do not look at the instructions enter single and -0- ZERO sign the completed W-4 form and return it to your employer then you should have some amount of federal income tax withheld and when you file your first 1040 federal income tax return after the end of the tax... More
Answered By: Bobbie - 12/2/2010
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