My daughter is 15 years old and she has worked weekends in a restaurant for the last year. She has claimed exempt and she is getting close to earning $3,000. Will she owe taxes and have to file even though she is a student and tax exempt?

ANSWER

Expert Michael Lim's Answer:

No, she will not owe taxes, even if you claim her as a dependent.

All individuals are entitled to a standard deduction of $5,700.  If you make lower than this amount, then you technically do not even have a filing requirement, as her taxable income would be zero ($3,000 income - $5,700 Standard Deduction= Negative Taxable Income).

Michael Lim, CPA

California

16 yrs experience

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