Anonymous asked in Business & FinanceTaxesUnited States · 1 month ago

Can I file my own W-2 if I live with my parents(18y/o)?

I've turned 18 in November of 2019 and recently started working 40 hours a week 3 months ago and am also a full time college student.

 I've been told that around tax season I should be receiving a W-2..but I don't know if I can file it myself or do I have to provide it to my parents to give to the accountant like usual when I was doing summer jobs at 16-17?

I just want to make sure I'm receiving all of my tax refund money 

8 Answers

  • 1 month ago

    If you earned over $12k, you are required to file an income tax return.  Your employer (not you) files the W-2 form. You just use it to fill out your tax return.  The W-2 form tells you how much money you earned and how much taxes were withheld.  The tax return will determine how much taxes you SHOULD HAVE withheld vs how much you DID HAVE withheld.  Your employer withholds taxes based information YOU provided on a W-4 form, at the start of your job.  

    The W-4 form asks 2 basic questions. 1) your marital status? and 2) number of dependents you have?

    Sounds like you should have entered...

    1) 'Single' and

    2) 0 dependents.  (if your parents claim you on their return) OR    1 dependent.  (if your parents do NOT claim you on their return).   

    The more dependents you have, the less taxes are withheld.  If you claim more dependents than you actually have, you will get a bigger paycheck during the year but you will owe, big time come tax season. .

  • 1 month ago

    I am not an attorney.

    Last I knew, if you make less than 12k in earned income and less than 1k in unearned income, then you do not have to file an income tax return at all, though you may want to do it anyway to make sure you get back anything you might be owed from the government.

    That said, there is nothing wrong with filing your own income taxes.

    However, since you are a college student, and I am guessing your parents contribute a significant amount to your college and support, you may want to let their tax accountant decide for you how to file.  This way your family can get the most deductions and save the most money as a whole.  That way, everyone files, mon and dad pay the accountant fee, and your family gets the most money back from the government.

  • Shay
    Lv 7
    1 month ago

    You have ALWAYS been able to file YOUR OWN tax return - even at 16 or 17.

    The difference is - are you a dependent or not.  Under the age of 18, you ARE their dependent.  Over the age of 18 and still a full time student - you are still their dependent.  There is a place on the tax return to mark that you are someone's dependent.

    But - YOU CAN file your own tax return and get your own refund.  (and you could have in the past too)  Your parents have been keeping YOUR refund.  

  • 1 month ago

    You always file your own return, your W2 income does NOT go on your parent's return.

    The only thing that may affect your situation is whether or not you qualify as their dependent. At age 18 and still living at home you likely do qualify as their dependent. This does NOT mean you have to give them your W2 and you do NOT put your income on their tax return. It simply means that when you file your return you must check a box declaring that someone else can claim you as dependent. You won't qualify for some tax credits but you will still get a refund of any excess tax that was withheld from your paychecks.

    You should go back and ask your parents to return your W2 forms from previous years and file returns for those years now. You are likely entitled to refunds which you can still claim without penalty. If your parents put your W2 income on their tax returns in previous years then they should amend those years.

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  • Anonymous
    1 month ago

    FWIW, if your only income is from wages and you make less than $12,400, you will get all of your federal income tax withheld back.

  • 1 month ago

    Your age doesn't matter, nor does living with parents.  You can always file a return with your W2(s).  You are however likely their dependent, so you must not claim yourself on your return when you file.  Your W2 does not go on your parents' return.

  • 1 month ago

    W-2s are not filed.  What you should be filing is a "tax return".  In that return, you list your income, as outlined on your W-2s, annual bank statements, etc.  Your father cannot add your W-2 to his income because it is not his income, it is yours.  If your father can't show you how to file, read how and do it yourself or hire a Certified Public Accountant and look at your copy to see how it was done, so that you can do it yourself next year.  At this point, it will be a very simple one.  Unless you start regular trading on the stock market, you should be able to do it yourself.

  • That all depends on whether or not your parents want to claim you as a dependent.  There's a box you can check on the 1040 that asks if someone else is claiming you as a dependent and it affects your standard deduction.

    Follow the link and see if you'd count as a dependent for your parents.

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