<p>On the student income section, it is asking for my income tax and tax exemption. I have no idea how to respond to this because I have not yet filed any sort of papers concerning my taxes. I just got my job three months ago. I must fill out the section. I'm not allowed to skip. Any ideas on what I should put?</p>
<p>My total income is about $1000 btw, so I’m not even sure if it’s taxable or the amount is that significant. Not really sure what to do…</p>
<p>Could your parent help you out?
Your tax exemption should be 0.
Do you have any other incomes? If not, your income tax could be 0 per $1000 earned income.</p>
<p>Always talk to a tax expert for any tax matters.</p>
<p>Until you file your tax returns, you put estimates in your FAFSA. Then you go back and put in the proper numbers. Don’t delay turning in your FAFSA. Put in estimates.
Your reported income means you will not be taxed. Also, as a young, single student, your tax exemption is 0.
Don’t forget the numbers you are putting in the current FAFSA are all from 2012.</p>
<p>Find your final pay stub, and you will see your total earned income under year-to-date. If this is your only income (no bank accounts with interest or anything else under your social security number - check with your parents), it is your total income. Since you are obviously someone else’s dependent, they use your exemption on their taxes, so you have none (put a “0”). At that income level you will owe no taxes (put “0” not the amount listed as withheld).</p>
<p>It might be easiest if you download a copy of 1040EZ from the IRS website and fill it out, so you understand where the numbers are coming from.</p>