Student Income Tax Question

Student Income Tax Question

Student Income Tax Question

How much income do I have to make in order to file income taxes as a student?

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Jan 20, 2024
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starstarstarstarstar 		Knowing When to File Based on Income
by: BB

As of my knowledge cutoff in January 2022, the income threshold for filing income taxes depends on various factors, including your filing status, age, and the type of income you have. For students, it's essential to consider whether you have earned income or unearned income.

Earned Income (e.g., Wages):

Generally, if your earned income exceeds the standard deduction amount, you may need to file taxes. For the tax year 2022, the standard deduction for a single filer is $12,550.
Unearned Income (e.g., Investment Income):

If you have unearned income, such as dividends or interest, the thresholds for filing may be different.
It's crucial to check the latest IRS guidelines or consult a tax professional for the most up-to-date information, as tax laws can change.

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Student Expenses

by Mari
(Florida)

My question has to do with Student room/board and meal plans of which I have paid summer and fall of 2010 and adds up to ~ 4k. I know there is a credit for tuition and fees but not sure about Dorm and food. Please tell me if there is any place where I can get some sort of deduction.

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Student Loan Interest not in my name

My mom has a Parent Plus Loan that I make all the payments to. Can I claim the student loan interest on this loan since I make all the payments?

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Student Loan Payoff Using 529 Plan & Savings Bonds

I used money from a 529 college savings plan for my daughter, and from US savings bonds purchased in my name and my daughter's name, to pay off one of her student loans. Can the interest earned, on either or both, be excluded from income? If so, where do I report it on the 1040?

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Student Loans

I am a co-signor on my childs students loans. I no longer claim that child on my income tax. I pay the student loans. Can I put the student loans interest on my tax return?

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Student Loans Paid Off

by Mandi
(Columbus, WI)

If I were to pay off my student loans in full, do I get any credits back on my taxes? I am a single mom still enrolled in college classes full time.

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Student Scholarship and Income Tax

by Christy
(New York)

If I am Given a 32k Stipend for the year for school, and I have to pay 4k for mandatory medical insurance. How much do I have to pay in income taxes for the year?

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Student Taxes

by Jason A Miller
(Spring, TX US)

I have'nt worked in 2010 but have paid 14223.00 in school tuition. Would I qualify for the hope credit, or the learning credit? And how do I file?

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Working Student in Boston

by Randy
(Medina, OH)

I am a graduate student in Boston working at the university and have income in both MA and my home state of OH. How do I file my state income tax this year?

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