<p>Hello all. This question has probably been asked before, but I couldn't find mention of it anywhere. So, here goes, and I apologize in advance if it indeed has been asked multiple times before.</p>
<p>In 2007, I made $1001.96 in work-study money (probably not relevant, but I'm including it anyways). Over the summer, I earned $6676.54, not including the $548.40 that was deducted for taxes.</p>
<p>I'm fairly sure I'm not required to file a tax return (the limit this year is $8950, right?), but I'd like to know which would most likely maximize my financial aid - filing my own return, or put it on my parent's tax return - they list me as a dependent.</p>
<p>If it helps, I'm at a LAC in California, so I'll need to fill out the CSS/Profile as well.A preemptive thank you to all who respond!</p>
<p>I think you are required to file a tax return. As you are claimed as a dependent on someone elses tax return you cannot claim yourself as an exemption so the $8950 does not apply to you - the earned income in your case is $5150. </p>
<p>Work Study earnings are relevant - they are taxable like any other income.</p>
<p>Even if you were not required to file you should as you should get large part of the tax you have paid refunded.</p>
<p>It should not make a difference financial aid wise how you file - your earnings are student earnings whether you do not file at all, file your own taxes, or file on someone elses (which I don't think you can though I am not a tax expert).</p>
<p>Here is n IRS link about dependent tax rules:
<a href="http://www.irs.gov/publications/p929/ar02.html#d0e280%5B/url%5D">http://www.irs.gov/publications/p929/ar02.html#d0e280</a></p>