Tax Return Planning & Filing Question of the Week

How much income does an unmarried dependent student have to make before he/she has to file an income tax return?

A child that can be claimed by his/her parents is entitled to a standard deduction that may not exceed the greater of $950 or the sum of the student's earned income plus $300. The maximum exclusion is equal to $5,700.

A student must file a tax return if their unearned income is greater than $950, the earned income is greater than $5,700 or if their total income exceeds the larger of $950 or earned income up to $5,400 plus $300.

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