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Student tax question, fafsa?
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?
4 Answers
- SlickterpLv 71 year ago
If you are a dependent, the filing requirement is lower.
File now, and then submit that to FAFSA.
- NALv 71 year ago
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.
- babyboomer1001Lv 71 year ago
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?
