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    1 Reply Latest reply on May 13, 2009 5:37 PM by LUCKIEST

    Tax Filing Requirements

    west23 Wayfarer
      According to this IRS publications, does my daughter have to file a tax return with the earned income of $1,000.00 from her home-based business? (match number 3)

       

      Table 2.2008 Filing Requirements for Dependents

      <table class="jive-wiki-table">
      <tr>
      <td>SeeExemptions for Dependentsto find out if you are a dependent.</td>
      </tr>
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      <td>If your parent (or someone else) can claim you as a dependent, use this table to see if you must file a return.</td>
      </tr>
      <tr>
      <td>In this table, unearned income includes taxable interest, ordinary dividends, and capital gain distributions. It also includes unemployment compensation, taxable social security benefits, pensions, annuities, and distributions of unearned income from a trust. Earned income includes wages, tips, professional fees, and taxable scholarship and fellowship grants. Gross income is the total of your unearned and earned income.</td>
      </tr>
      <tr>
      <td>Caution.If your gross income was $3,500 or more, you usually cannot be claimed as a dependent unless you are a qualifying child. For details, see Exemptions for Dependents.</td>
      </tr>
      <tr>
      <td>Single dependents- Were you either age 65 or older or blind?</td>
      </tr>
      <tr>
      <td>□</td>
      <td>No. You must file a return if any of the following apply.

      1. Your unearned income was more than $900.
      2. Your earned income was more than $5,450.
      3. Your gross income was more than the larger of -
        1. $900, or
        2. Your earned income (up to $5,150) plus $300.
      </td>
      </tr>
      </table>