Tax questions, how to file do I need to file?

Tax questions, how to file do I need to file?
I am 22 years old, have been living at school for the past two years or so and my parents are not claiming me for taxes this year, because I have been living on my own. I support myself through work-study and student loans. I need to file taxes so that I can file FAFSA, but don't have any income besides the work-study. What should I do about filing?


Answers:

jpr302001:  Go to someplace like H&R block; it's worth the $100 to get it done instantly and correctly.
2008-03-03 08:39:53
Judy:  Work study is income, and you should get a W-2 for it. The amount is probably below the limit where you HAVE to file, but you can file a return anyway so you have something to show to FAFSA. Loans won't show on your tax return.
2008-03-03 08:40:00
dewkisses02:  you're not required to file taxes unless you make more than 8750. When you're filling out the fafsa, you can just tell them you're not going to file because you're not required to if you made less than 8750. Also, student loan money is not income to you, so it won't count toward the 8750.
2008-03-03 08:41:38
Chosen Answer
Richard M:  Since your adjusted gross income was $54,000 or less in 2007, you can use Free File to prepare and e-file your taxes online. Go to the IRS website and click on "Use Free File to Prepare Your Taxes".
2008-03-03 14:10:58
notaperviemusculargent:  If you are supporting yourself, you definitely need to file. Depending upon whether you are a church employee or made tips somewhere, you may have to file even if you made only 20 for the year. Assuming you supply over 50% of your support, you can deduct your exemption of 3400 and a standard deduction of 5350. You probably do not enough itemized deductions to itemize. But the IRS has a formula for support. If your parents can claim you, you can only knock your standard deduction of 5350 off of your Federal income tax. By the way, you definitely have to report the work study income to the IRS. Don't go to block. Just do FreetaxUSA, Free1040now, or TaxAct on line. Don't use taxcut. Some states do not have free eFile on their website. One taxpayer emailed me and said it was only 10.00 to do BOTH Federal and State on FreeTaxUSA. Turbotax is 15.00; TaxAct is 17.00. H&R ripoff's is 45 and there have been com-plaints about the software and even the accuracy of the software. Several States do not charge on their website to do income taxes. So you may be able to iFile {eFile} the State return for free. If the IRS accepts your return, you should get your State back in 5 business days and your Federal in 10-15 business days depending upon how late in the season.
2008-03-05 23:46:26