Today TaxMama hears from Carol in Colorado. She asks, “Should my 17 year-old daughter file taxes this year even though she made below the required ,000.
00? She earned $4,800.00. Would she qualify for a refund?
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She tells me her W-3 showed 0 withholding.”
What a terrific daughter. That’s a respectable level of earnings for a teenager.
If she’s never filed a tax return before, I wouldn’t start now. She won’t owe any money. And she’s not entitled to a Recovery Credit since she’s your dependent.
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There’s no point bringing her to IRS’s attention too early.
This year, she’s off the hook.
I am glad you asked.
And remember, you can find answers to all kinds of questions about teenagers’ tax returns and other tax issues, free. Where? Where else? At TaxMama.com[Note: If you were subscribed to the e-mailed TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the subscribe link and join us.]
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