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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
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Dear Tax Talk,
My son is considered a qualifying dependent. He is 19 and goes to college. He earned about $1,800 this summer, and he receives scholarship money. Does he need to fill out his own tax return because of the money he earned this year, or can we do what we did last year and claim him as a dependent without reporting any income from him? — Sue
Dear Sue,
Yes, you can claim your son as a dependent on your tax return. Your son does not need to file a tax return, as his income was not more than $5,950. However, if your son’s Form W-2 reflects federal income taxes withheld, he would need to file a tax return to receive a refund of those taxes. If that is the case, then be sure that he does not claim himself as a dependent on his income tax return, since you are going to be claiming him as a dependent on your income tax return.
Ask the adviser
To ask a question on Tax Talk, go to the “Ask the Experts” page and select “Taxes” as the topic. Read more Tax Talk columns.
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