I've looked online so much, asked friends questions, and I still am not sure the answer to this question.
I am a college student (under 24, older than 18), and my parents pay for my rent and tuition (in state university). I work during the school year making around $2000 a semester. This past summer I had a summer job and made around $7000. This upcoming summer, I will make a little over $20,000.
For the upcoming tax filing, can I file myself or am I required to be claimed as a dependent by my parents? If I am claimed by my parents, I will not be getting any tax refunds for my work as my parents earn a decent amount of money. However, a lot of my friends tell me to file myself and get most of my taxes back as I would be "low income." I am confused on what the tax law is... When can I file taxes myself and when am I required to be claimed by my parents?
I am a college student (under 24, older than 18), and my parents pay for my rent and tuition (in state university). I work during the school year making around $2000 a semester. This past summer I had a summer job and made around $7000. This upcoming summer, I will make a little over $20,000.
For the upcoming tax filing, can I file myself or am I required to be claimed as a dependent by my parents? If I am claimed by my parents, I will not be getting any tax refunds for my work as my parents earn a decent amount of money. However, a lot of my friends tell me to file myself and get most of my taxes back as I would be "low income." I am confused on what the tax law is... When can I file taxes myself and when am I required to be claimed by my parents?