2012 Filing Requirements for a Dependent

2012 Filing Requirements for a Dependent
If you are a dependent, then your filing requirements are different from that of a non-dependent. Also, if your parents can claim you as a dependent, then you can't file as a non-dependent even if your parents don't actually claim you. On a tax return, a dependent does not get personal exemption of $3,800. If you are a dependent and are not required to file, you should still file your tax return if you have a refund.

Filing Requirements for a Dependent under 65 and not blind (Single)
If you are a dependent (single), you must file a return if any of the following apply.
1. Your unearned income was more than $950.
2. Your earned income was more than $5,950.
3. Your gross income was more than the larger of:$950, or your earned income up to $5,650 plus $300, or
4. Your self employed income is $400 or more.
Filing Requirements for a Dependent under 65 and not blind (Married)

If you are a dependent (married), you must file a return if any of the following apply.
1. Your unearned income was more than $950.
2. Your earned income was more than $5,950.
3. Your gross income was more than the larger of :$950, or your earned income up to $5,650 plus $300.
4. If your gross income was at least $5 and your spouse files a separate return and itemizes deduction, or
5. Your self employed income is $400 or more.

Filing Requirements for a Dependent 65 or older or blind (Single)
If you are a dependent (single), you must file a return if any of the following apply.
1. Your unearned income was more than $2,400 ($3,850 if 65 or older and blind).
2. Your earned income was more than $7,400 ($8,850 if 65 or older and blind).
3. Your gross income was more than larger of : $2,400 ($3,850 if 65 or older and blind), or your earned income up to $5,650 plus $1,750 ($3,200 if 65 or older and blind).
4. Your self employed income is $400 or more.

Filing Requirements for a Dependent 65 or older or blind (Married)
If you are a dependent (single), you must file a return if any of the following apply.
1. Your unearned income was more than $2,100 ($3,750 if 65 or older and blind).
2. Your earned income was more than $7,100 ($8,250 if 65 or older and blind).
3. Your gross income for 2012 was more than larger of :$2,100 ($3,250 if 65 or older and blind), or your earned income up to $5,650 plus $1,450 ($2,600 if 65 or older and blind).
4. If your gross income was at least $5 and your spouse files a separate return and itemizes deduction, or
5. Your self employed income is $400 or more.

2012 Standard Deduction for Dependent Individual
On the 2012 tax return, the standard deduction amount that can be claimed by an Individual who is dependent can not exceed the greater of
(i) $950, or
(ii) the sum of $300 and the earned income up to $5,650.
Child's Taxable Age
There is no minimum age when a child's tax return must be filed. In other words, the day the child has taxable income (income minus deduction), child must pay the taxes. Thus infants also pay income tax. Some infants do have interest and other investment income.

If a child is under 18 and the income in 2012 is more than $950 but less than $9,500, then the parents can elect to include child's interest and dividends income in their own return. However, once a child is 18, child must file his/her own separate return. Also if a child has earned income, capital gain income, self employment income, winnings income, then the child must file his/her separate return.

13 Card Indian Rummy by Octro. Now available for iPhone, iPad, Android and Facebook. Indian Rummy by Octro has LIVE TABLES for Rummy, and you play with REAL PLAYERS from all around the world.  It is a multiplayer card game that you can play with bots (computer) and with your Facebook friends. Free Download http://www.octrorummy.com/

2012 Filing Requirements for Most Taxpayers

2012 Filing Requirements
You must file a federal income tax return if you are a citizen or resident of the United States or a resident of Puerto Rico and you meet the filing requirements as given below. However, if you are self employed or independent contractor, you must file tax return if your self employed income is $400 or more.

1. Filing Status Single
If under 65, must file tax return if gross income is at least $9,750.
If 65 or older, must file tax return if gross income is at least $11,200.

2. Filing Status Married Filing Jointly
If under 65 (both spouses), must file tax return if gross income is at least $19,500.
If 65 or older (one spouse), must file tax return if gross income is at least $20,650.
If 65 or older (both spouses), must file tax return if gross income is at least $21,800.
(Read Filing Status: Married Filing Jointly)

3. Filing Status Married Filing Separately
Any age, must file tax return if gross income is at least $3,800.
(Read Filing Status: Married Filing Separately)

4. Filing Status Head of Household
If under 65, must file tax return if gross income is at least $12,500.
If 65 or older, must file tax return if gross income is at least $13,950.
(Read More: Head of Household)

5. Filing Status Qualifying Widow(er) with Dependent Child
If under 65, must file tax return if gross income is at least $15,700.
If 65 or older, must file tax return if gross income is at least $16,850.

Standard Deduction
For the 2012 tax return, the standard deduction amounts are,
*Single (other than head of household and Surviving Spouses) $5,950
*Married Filing Joint Returns and Surviving Spouses $11,900
*Married Filing Separate Returns $5,950
*Head of Households $8,700

The 2012 Exemption Deduction for each exemption is $3,800
If you are a dependent, read: Filing Requirements of a Dependent
For more information read IRS Publication 501 (2008), Exemptions, Standard Deduction, and Filing Information

More Articles:Your Filing Status
1. Filing Status for Married
2. Head of Household
Exemptions for Dependents
1. Requirements for claiming a dependent
2. Child of separated or divorced parents
Filing Requirements
1. Filing Requirement for a Dependent
2. 2009 Filing Requirements
Your Income
1. W2 vs 1099-Misc: Employee vs Independent Contractor
2. Tax Filing by Self Employed Sole Proprietor or Independent Contractor
3. Partnerships
4. Filing W4 Employee’s Withholding Allowance Certificate
5. Missing W2, 1099-Misc, 1099-R, 1099-Int
6. My Tax Refund?
Your Foreign Income
1. U.S. Citizen or Resident with Foreign Income
2. Foreign Bank and Financial Accounts
Income Exemptions and Deductions
1. Moving Expenses
2. Itemized deductions
3. Student Loan Interest Deductions
Income Adjustment
1. Traditional IRA and Roth IRA
2. Elective Deferrals 401(k) Plans
U.S. Gift tax and Inheritance Tax
1. The U.S. Gift Tax
2. Tax on Inheritances
Sale of Your Home
1. Profit from the Sale of Your Home
2. Foreclosure or Repossession of Main Home
3. First-Time Homebuyer Credit
State Tax
1. Working in Two or More States
What's New for 2009
What's New for 2009

Tax for Nonresidents and Foreign Aliens
1. U.S. Tax Filing Requirements for Non-Residents
2. Substantial Presence Test
3. Social Security and Medicare (FICA) Taxes for Non-resident Exempt Individual
4. U.S. Tax Treaties for Professors, Teachers and Researchers
5. U.S. Tax Treaties for Students and Apprentices
6. The U.S. VisasComplete List of Articles

13 Card Indian Rummy by Octro. Now available for iPhone, iPad, Android and Facebook. Indian Rummy by Octro has LIVE TABLES for Rummy, and you play with REAL PLAYERS from all around the world.  It is a multiplayer card game that you can play with bots (computer) and with your Facebook friends. Free Download http://www.octrorummy.com/