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Dependent Tax Filing Rules

Filing Taxes as a Dependent

If someone claims you as a dependent on their income tax return, this doesn’t necessarily mean that you don’t have to file your own tax return. Filing taxes when claimed as a dependent means that you are subject to an alternative set of IRS rules for determining if and when a tax return is necessary. In most cases, a dependent’s tax filing obligation kicks in sooner than most other taxpayers.

Dependent Tax Filing Guidelines

The general tax filing rules require taxpayers, who are not dependents, to file a tax return for years their annual income exceeds the sum of the standard deduction plus one personal exemption, or two exemptions if filing a joint return. Since you are the dependent to another taxpayer, you cannot claim a personal exemption on your own tax return. This means that you only use the standard deduction of a single taxpayer to determine whether you need to file a dependent tax return, which increases slightly each year. However, this threshold only applies to your earned income.

Dependent’s Earned Income vs. Unearned Income

For purposes of a dependent’s income tax return, the IRS treats your earned income differently from your unearned income. In general, your earned income consists of earnings you receive for providing services, such as through employment, self-employment or working as an independent contractor. You only need to file a federal income tax return when your annual earned income exceeds the standard deduction for a single filer. However, your obligation to file an income tax return kicks in when you receive unearned income of more than $950. This unearned income includes any money you receive, other than gifts and inheritances, from investments. Commonly, this will include your interest earnings in a bank account or the dividends you receive from a stock portfolio. The significance of this unearned income rule is that you will owe federal income tax on all amounts in excess of $950; whereas, if you earn all of your income, you only pay federal income tax on amounts over the standard deduction.

Reference: IRS Publication 929-Tax Rules for Children and Dependents