Do I need to file taxes to be independent?

[CaptainPicard]

Here's my story: I have lived off something like $30k+ in loans the past year, and I haven't worked enough to have to file. I am not receiving anything from my parents, so I want to have my independent status for financial aid.

In order to do this, would I still need to file taxes and list all of my loans as a source of money?

I appreciate any help in this matter.

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[nontrdgsbuiucmd]

You do not need to file taxes unless your earnings are higher than a certain number -- I think that it is over 5K but you may want to check out www.irs.gov, pull down a 1040 EZ from the forms and publications section (which should be fine unless you've got a lot of interest income, own a home, or have a more complicated situation than referenced here) and read the section "do I need to file".

Loans are not income; regardless of what you borrow, if you have no other source of income, you don't need to file.

Parents or others cannot list you as a dependant, or at least they're not supposed to, unless they pay the majority of your living expenses.

 

[TMP-SMX]

Taxes, independent tax status, and dependency for taxes have nothing to do with each other. For 2007 I filed taxes but was still dependent, and was independent for the FAFSA because I'm going to medical school. You don't have to file taxes at all unless you make a certain amount, however if you are paying taxes in your wages you are going to want to get that tax amount back as a refund.

Here is the worksheet you want so you can tell if you are independent or not for the FAFSA.

"Were you born before January 1, 1986 (question 48)?
As of today, are you married? (Answer "Yes" if you are separated, but not divorced.) (question 49)
At the beginning of the 2009-2010 school year, will you be working on a master's or doctorate program (such as an MA, MBA, MD, JD, PhD, EdD, or graduate certificate, etc.) (question 50)?
Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training (question 51)?
Are you a veteran of the U.S. Armed Forces (question 52)?"