I have a dependent W2 question. This is the first year my child received a W2. Will she need to file taxes separately?
Your dependent child must file a return if either of these is true about your child’s income:
- The child has unearned income over $1,050
- The child has earned income over $6,350
The child has gross income (earned and unearned) which is more than the larger of these:
- Earned income (up to $6,300) plus $350
As end-of-year approaches, taxes owed can become a major headache. Plan ahead by considering 529 Tax Deductions and other end-of-year savings options.
Learn more about earned income credit eligibility and get tax answers at H&R Block.
Head of household is a filing status for single or unmarried taxpayers who have maintained a home for a qualifying person, such as a child or relative. This filing status provides a larger standard deduction and more generous tax rates for calculating federal income tax than the Single filing status.
Unfortunately, the cost of your engagement ring can't be deducted as a write-off on your personal income taxes. H&R Block tax pros explain why.