student wages on fafsa-NEED HELP

[donkeykong1]

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I'm in need of some help with my fafsa. So basically this past year i made a little over $7,000 in wages and tips and am currently not listed as a dependent on my parents tax return although I am living with them-so they're not receiving any tax breaks b/c of me. I just received my w-2.

1)do i have to fill out a tax return?

2)if i dont fill one out do i have to reprot this on my fafsa application?

 

[TMP-SMX]

A few issues here. Are you sure you cannot be claimed as a dependent? There is no benefit of them not claiming you on their taxes. You can still do your taxes if you are a dependent. Also remember that the federal tax dependency status has no bearing on the FAFSA dependency.

For 2009 were you all of these?:
1) Under 24 and a full time student for at least 5 months
2) Supported by your parents for at least half of the amount of costs
3) Living with your parents for at least half the year
4) A child of the people wanting to claim you as a dependent

So to answer your questions

1) You should file if you want your withheld taxes back. You MUST file if your gross income is above $9,350 and you are not a dependent. You also MUST file if you are a single dependent and made more than $950 unearned income or $4750 earned income.

2) Yes you report it on the FAFSA if you will file, already completed, or will not file a 1040.

 

[donkeykong1]

hey thanks, it turns out my parents do list me as a dependent.

I still have one more question however, on my w-2 it shows the income tax withheld so the money was already taken off my income, do I still have to file a tax return if i don't wish to get that money back?

Also which tax return do i file?

 

[TMP-SMX]

You have to file because you made over 4750. You'll get some of your withheld income back. File a 1040EZ (I think). Do it online for free. You'll also have to do a state return.