Student tax question, fafsa?

Question

I thought I wasn't supposed to file because I made less than $12,000. What I didn't realize is that things are more complicated for dependents. I didn't know I had to file if my unearned income was greater than $1,050 . For the year 2018, I was a full time student (20) and claimed as a dependent. My earned income was $1603 and my unearned income (scholarships exceed tuition) was $7525. Was I wrong in thinking I didn't need to file? I need my 2018 tax information to submit my fafsa and I don't know whether to submit proof of non-filing or tax return. I made an appointment with an IRS center to get a non-filing letter. Should I cancel the appointment and go to a tax preparer instead to file my 2018 taxes? If I did need to file, does that mean I'm going to owe a lot of money now?

Beverly S · Answer

You don't get a choice... you need to file.. Fafsa needs your income.

Slickterp · Answer

If you are a dependent, the filing requirement is lower.

File now, and then submit that to FAFSA.

NA · Answer

Scholarships are NOT unearned income.  To be nice to you, it is classified as earned income.  Unless you had, say interest income, you need income of $12,200 or more for 2018 to pay tax.

babyboomer1001 · Answer

If you had a legitimate job, with deductions, then you should have filed.  What was the basis for your belief that you didn't have to file, based on a less than $12,000 income?

Student tax question, fafsa?

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