so theres this one question that goes:
Has the student completed an income tax return for the 2014 tax year?
Obviously the answer should be no, right? as I am only a student and have never dealt with with taxes and the like
there is another section that has the exact same question but with regards to my parents. the answer to that would be different, yes?
Students aren’t automatically exempt from filing taxes. The answer isn’t obviously no. Many students work and some earn enough to be required to file taxes. How much income did you have in 2014? You are or are close to being an adult so no more ‘I’m only a student’ thinking.
You don’t know if your parents file a tax return? You should ask them.
haha, yes they do file taxes, sorry about that.
And no, I don’t really work (I don’t think really babysitting counts)
Thanks for your input!
Ok, your parents may not yet have filed their 2014 return yet. So you should ask them if they have.
Baby sitting is work and counts as income.
Hmm, he hasn’t received all the required information yet… He’s missing the apartment buildings tax info or something…
Baby sitting/tutoring isn;t taxable though is it? But of course if there’s a section dedicated to untaxed endeavors, will definitely fill it in accordingly.
Yes, if you make enough, baby sitting and tutoring are taxable income.
If you make under $5000 or so, you will not owe any tax. You can file a tax return even if you made less. Many high school kids have paychecks and had some federal tax withheld, so may even get a refund.
@Maggpie your tax advice is not necessarily correct (your first sentence) unless you believe the student is receiving a W-2 for babysitting and tutoring or is earning less than $400 per calendar year.