<p>So,this year, 2011-2012 I am awarded Pell Grant and Work Study. The amount for Work Study is Max : $3000. I filed the W4 before working and say that I will claim 1 allowance (or myself) in the tax return. What kind of tax return I have to file ? W2 ? When I have to file it ?</p>
<pre><code> Although I state that I am dependent on the W4, school's dependent form, FAFSA application, my parents have no income. We both live in my aunt's house ( I am not sure if my aunt claims my parents and me as her dependents or not). Since I have a job from Work Study, should I claim that I am independent in the next year and claim that my parents as my dependents ? ( I am single, I do not own any real estate, I am under 24 years old)
If I file the tax return, when I attach it to the FAFSA application , will FAFSA notice that job is from Work Study ?
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<p>You should file 1040ez. When you know the total earning is only $3000, you should fill out the W4 with 10 dependents and they will not withold any thing so you don’t have to file. Now the tzx has been witheld and you need to file 1040ez to get it back, it is very simple.</p>
<p>Remember your tax return will be based on the income for the tax year (through december 31st), not through the school year. If you have grants and/or scholarships that exceed your tuition and fees, that excess is also taxable income.</p>
<p>FAFSA has a question that asks about WS and taxable grants/scholarships that are included in your AGI (from your tax return). If you answer those questions accurately, those amounts will be deducted from your income in the EFC formula, so they will not impact your EFC.</p>
<p>You can’t claim your parents as your dependents on your tax return. You would have to show that you provide more than 50% of their support. That is obviously not the case.</p>
<p>If they have no income, then your EFC should be 0 anyway. So even if you could file FAFSA as an independent (which you can’t), it would make no difference to your EFC</p>
<p>Thanks both 2 of u. So, I guess I should not claim my parents as my dependents. Then, in order to get the tax money back I should file the 1040ez or the W2 ?</p>
<p>You file a 1040. It can be a 1040, 1040a, 1040 ez. As your situation is pretty simple you can file a 1040ez - it’s the shortest one. A W2 is not a tax return. It is a form your job sends you that shows data about your earned income and any deductions. You use it to complete your tax return. </p>
<p>The IRS has links to freefile options. They are online software providers that will walk you through the process and you can file for no charge.</p>
<p>No, you can’t claim your parents as your dependents. Under the qualifying relative dependency rules, you have to provide more than 50% of someone’s support to claim them as a dependent.</p>
<p>on the w4 you can claim any number of dependents it is a control of how much withholding you want the company to make. but on 1040ez, you should only claim yourself, you cannot claim your parents as dependent. a 1040 is a formal filing of your tax returns.</p>
<p>To clarify: Either mark the W-4 as exempt, or 10 exemptions. Whichever makes them not withhold federal income tax. If your income from wages for the entire year is less than $5,700 you will not owe tax and won’t have to file a return if there is no withholding. I’m going to assume you have no investment income. If, however, your grants exceed the cost of tuition, that may be taxable so check that. If they DO withhold, then file the 1040EZ just to get the money back. </p>
<p>You cannot claim your parents as dependents as previously discussed. If your relatives are claiming you, then you can’t also claim yourself, but it doesn’t matter since you will have no taxable income.</p>