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HeaT | Can you file taxes as a college student? |
I havent worked since December of 2006 and I was in college from that time on. Am I eligible to receive an income tax check because i received income from refund checks from school? |
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Charles G
 |
Did the refund checks from school withhold federal or state income tax? You might get that back.
Do you have earned income? If you are over 25 or have an eligible dependent, you might be eligible for earned income credit. If no earned income, no earned income credit.
I never received refund checks from school, what is it? |
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Judy1
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I'm not sure you understand just what a tax refund is. Through the year you might have money withheld from your paycheck for federal income tax. At the end of the year, you prepare a form called a tax return to calculate how much tax you owe total for the year, and compare that to what was withheld. If you had more withheld than your total tax, you get the extra back as a refund. If you didn't have enough withheld, you have to pay the rest rather than getting a refund.
No, you didn't have anything withheld for income tax, so you have no refund coming. If those refunds from school were because you had grants or scholarships that paid more than your tuition and fees cost, it's possible that those checks might be taxable income to you, and you might have to file and PAY some tax, not get a refund. |
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bostonianinmo
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If you had no income, there's no need to file a tax return. A refund of tuition or fees isn't taxable unless you took a tuition deduction for it in the first place.
Getting a tax refund isn't some kind of "bonus" from the government. It's just a refund of an overpayment just like the refund of overpaid tuition would be. If you pay in more than your tax liability, you get a refund. Same as if you give the cashier at Wally World a $20 for $15 worth of stuff; you get $5 back. |
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stephenweinstein
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Anyone can file taxes. All you need is a name, an address, a pen, and either a social security number or an individual taxpayer identification number. However, you would probably not receive a check.
You only receive a check if you
a) had tax withheld
b) made estimated tax payments
c) had earned income (refund checks from school are not earned income)
d) qualify for a refundable credit (you probably do not)
e) had sufficient qualifying income to receive a stimulus rebate (refund checks from school are not qualifying income, and the deadline to file and receive a stimulus rebate already passed) |
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src50
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"Refund checks" for what? A refund of payments for something is not income. If you have no income, you do not file a tax return. |
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bcnu
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No, you don't file "as a college student", you file as a taxpayer, i.e., a citizen or anyone else owing taxes. You should find out if any taxes were withheld from any checks that you received (they might say on a Form 1099 or similar statement you will get in January or February).
If you have ANY "earned" income up to $12,590 (and no children, or at least none that you know of), you can file for a Earned Income Tax Credit of up to $428 (for 2007) and whatever amount is set for 2008. "Earned" income includes money or other bartered value from wages, tips, commissions, cutting lawns, washing cars and other self-employment income, but not investment income, grants or other gifts. For example, if you do chores in exchange for "free" rent or meals, then the fair market value of that rent or meal is "earned income" at least to the extent it is not a gift or otherwise subsidized. |
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chatsplas
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NOPE. |
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Ann L
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Probably. When I did my taxes, I had to include what I spent in college. I usually got something back from it. |
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patricia
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do you have to file taxes on your student refunds? |
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