Legal Question in Tax Law in New Jersey
I am an 18 year old full time college student. But I am a dependent of my mother, who recieves child support for me from my father. I currently have a part time job, how do I know whether to file taxes or not. And which would be more beneficial for me, to file under her taxes or file by myself? Can I file by myself?
1 Answer from Attorneys
It all depends what other income you have, in addition to what you might earn from the job, like bank account interest and/or stock dividends. Plus, it is also important to look at the family as a unit. You might possibly pay a little more if you stayed as her dependent, but her taxes might be less if she continued to claim you as her dependent. .Her savings may be larger than your cost. Plus, depending on family income, you may be still entitled to a tuition credit. More details of family income are needed for a complete answer.