age of dependents on tax return
Once your income reaches a certain threshold, you have to file a federal income-tax return. The income limits depend on your filing status -- single, married, widowed or head of household -- and your age. If you’re 65 or older, the threshold for filing your taxes is higher. NOTE: 1  The standard deduction for a dependent is $3,950 for the 2014 tax year. 2  A qualifying dependent must be a U.S. citizen, U.S. national, or a resident of the U.S., Canada, or Mexico. 3  A spouse can never be a dependent. James and Barbara can claim their child, Ben, as a dependent on their return. Ben is a college student who works during the summer and must file a tax return. Ben cannot claim his own exemption on his return. This is true even if James and Barbara do not claim him as a dependent on their return. Judy, a full-time student, is single, age 22, and not blind. Her parents can claim her as a dependent on their tax return. She has dividend income of $275 and wages of $2,500. She enters $2,850 (her earned income plus $350) on line 1 of Worksheet 1. His parents can claim him as a dependent on their tax return. He has taxable interest income of $800 and wages of $150. He enters $500 (his earned income plus $350) on line 1 of Worksheet 1. On line 3, he enters $1,000, the larger of $500 or $1,000. Example 1. Joe is 20, single, not blind, and a full-time college student. He does not provide more than half of his own support, and his parents claim an exemption for him on their income tax return. He received $200 taxable interest income and earned $2,750 from a part-time job. Children who qualify as dependents. If your son or daughter is your biological child, stepchild, foster child, sibling, step-sibling, or a descendant of any of these individuals, you can claim him/her as your dependent, but the child can’t turn 19 at any time during the tax year (age 24 if a full-time student). -- $20,900 for married couples filing jointly in which both spouses are 65 or older. If you are married filing separately, you must file a tax return if your income is $3,650 or more, regardless of your age. Dependent children who worked for wages or tips or who collected income from investments in 2009 must file a tax return if: -- their earned income from a job was at least $5,700. 1 The standard deduction for a dependent is $3,950 for the 2014 tax year. 2  A qualifying dependent must be a U.S. citizen, U.S. national, or a resident of the U.S., Canada, or Mexico. 3  A spouse can never be a dependent. 4  If you can be claimed as a dependent on someone else’s tax return, you cannot claim anyone as a dependent. Updated for Tax Year 2014. OVERVIEW. The IRS allows exemptions for every dependent you claim on your tax return. So come tax season, even one dependent can really reduce the amount of your income subject to tax.
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