is this a situation that requires a us federal income tax return you are claimed as a dependent

Name: is this a situation that requires a us federal income tax return you are claimed as a dependent on your parents tax return earned 5000 of income and had 500 of federal withholdings you must 92823
Uploaded: 2023-07-17T17:50:43-08:00
Duration: 1 min
Channel: Brooke Bussoletti
Description: is this a situation that requires a us federal income tax return you are claimed as a dependent on your parents tax return earned 5000 of income and had 500 of federal withholdings you must 92823

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A person who owes total federal income taxes of $4,440 but had total withholdings of $3,980 would

Brooke B.

Jon Kent's parents subtracted $3,500 from their adjusted gross income when they listed him as an exemption on their tax return Jon's taxable income was $148. He paid $277 in withholding taxes. What amount should he expect as a tax refund?

Sri K.

Please complete the 2018 federal income tax return for Jonathan Hales. Be sure to include only required tax forms when completing the tax return. Ignore the requirement to attach the form(s) W-2 to the front page of Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps. Jonathan Hales attended State University as a part-time student during the year. Jonathan lived at home with his parents while working a part-time job. The following information relates to 2018: - Jonathan’s Social Security number is 546-87-9876 - His mailing address is 123 Spring Lane, Willow, Texas 77521 - Jonathan is a U.S. citizen - Jonathan was single during the entire year - Jonathan turned 19 on July 1 - Jonathan does not have any children or provide support for anyone but himself - Jonathan lived in a room in the basement of his parents’ home for all 12 months of the year - For the year, Jonathan’s parents provided $16,500 of support including room and board, a car, health insurance, clothing, education, and car insurance. - Jonathan was included in his father’s qualified minimum health insurance coverage plan for all 12 months during the year. Jonathan received the following income during the year: Employer | Gross Wages | Federal income tax withholding | State income tax withholding The Colony | 3675 | 165 | 0 Rock Climbing, LLC | 1790 | 0 | 0 Community Pool, Inc. | 4235 | 240 | 0 All applicable and appropriate payroll taxes were withheld by his various employers. Jonathan received $12 in interest income from the First Bank of Texas during the year. Jonathan did not own, control, or manage any foreign bank accounts, nor was he a grantor or beneficiary of a foreign trust during the tax year. Jonathan had no itemized deductions. Jonathan does not want to contribute to the Presidential Election Campaign Fund. He would like to receive a refund (if any) of any tax he may have overpaid for the year. His preferred method of receiving the refund is by check.

Akash M.

Transcript

00:01 In this question, you said that a person owes $4 ,440 in taxes, but they've already withheld $3 ,980.

00:14 How much do they owe now? the key here is that we're referencing the difference between if you withhold more, then you owe less, and so on.

00:30 So here, withheld is basically an estimate of your tax liability...

Question

is this a situation that requires a u.s. federal income tax return? you are claimed as a dependent on your parents tax return, earned $5,000 of income and had $500 of federal withholdings. you must file to claim refund.

Question

is this a situation that requires a u.s. federal income tax return? you are claimed as a dependent on your parents tax return, earned $5,000 of income and had $500 of federal withholdings. you must file to claim refund.

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