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For a full-time student with a part-time job, what are the income tax obligations?
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For a full-time student with a part-time job, what are the income tax obligations?

What is the threshhold for earnings for which a tax return is required (no withholdings)


    




Shane
If your parents are claiming you and you are under the age of 19 by the end of 2008 or you were a full time student under the age of 24 your parents can include your income in their taxes and you do not have to file. However, if you are 24 or older you would need to file if you earned an income for tax year 2008 minimum of $8,950.00. Because you are a student you may be eligible for certain deductions (i.e., education credits, student loan interest, tuition and fees paid like student body.) You need to get Form 8863 that will explain in detail what deductions you are allowed. In the event you are eligible for any deductions you would need to file a Schedule 1040A and Schedule A and for state and city taxes a Schedule IT-201. If you are not eligible for any of these deductions you merely need to file a 1040EZ and for city and state a schedule IT-200. You can get more details on the IRS website IRS.gov





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