Depending on how you would like to plan on filing the income tax return, the income-based tax can be assessed. So, it depends on your income tax filing status whether you are single, married and filing jointly or married and filing separately.
• Single: if you are single and below the age limit of 65 then the minimum annual gross income or amount which would let you file the income tax return would be $12,000. When you are 65 or even older and single then the amount would go to $13,600.
• Married and filing jointly: it actually depends on the couple’s age. If both of them are under 65 you may need to make $24,000 and if both are above 65 then you need to make $26,600. If one is 65 or even older then you may need to go for the difference $25,300.
• Qualifying widower: when you are considered to be a qualified widower i.e. when your husband died within the taxable year with a dependent child still you need to file as jointly and the difference in age can be applied. If, in any case you are under the age of 65, then the limit is $24,000 and if you are above the age of 65 or above, then $25,300.
• Married but filing separately: when people are married but wish to file separately then they just need $5 to file for income tax returns.
• Household head: when you are qualified to be the head of household and when you are less than 65 years then you need to make $18,000 to file income tax and if you are 65 or above age then $19,600.
If you are a dependent how much you need to make?
There are several factors upon which you might need to file a tax return even when you are a dependent. They would consider the income which you earn, unearned income and the gross income and minimums for these will be calculated based on various factors like your age, whether you are blind or not.
Do students need to file for taxes?
Usually, the parents would claim their children below the age of 18 as dependent and if you are a continuing with your education then till 24 of age. According to your situation, you can either claim for the education specific tax credits or can deduct a certain amount for your higher education expenses that you incur.