Question:  How much does an unmarried dependent student have to make before he or she has to file an income tax return? Answer: If you are an unmarried dependent student, you must file a tax return if your earned and/or unearned income exceeds certain limits. To find these limits refer to  Who Must File, Dependents  in  Publication 501 ,  Exemptions, Standard Deduction and Filing Information . Even if you do not have to file, you should file a federal income tax return if you can get money back (for example, had income tax withheld from your pay; you qualify for the earned income credit; you qualify for the additional child tax credit). See Who Should File in  Publication 501 ,  Exemptions, Standard Deduction and Filing Information,  for more examples. Additional Information: Tax Information for Students Publication 501, Exemptions, Standard Deduction, and Filing Information Santander Tax Service  ☎ (805...

Is there an age limit on claiming my child as a dependent? Answer: Age is a factor in the qualifying child test, but a qualifying relative can be any age. As long as the following tests are met, you may claim a dependency exemption for your child: Qualifying child or qualifying relative test Dependent taxpayer test Citizenship or resident test Joint return test http://www.irs.gov/publications/p501/index.html Santander Tax Service  ☎ (805)705-8572  

Claim your American Opportunity Tax Credit. The American Opportunity Tax Credit was a centerpiece of the 2009 stimulus bill. The new education tax break expanded the existing Hope Credit, providing a credit of up to $2,500 of the cost of qualified tuition and related expenses, and up to $1,000 of the credit could come back to the taxpayer as a refund. The American Opportunity Credit was originally supposed to end in 2010, but it was extended through 2012. However, this could be the credit's last year. Congress is looking for ways to cut the federal deficit, and allowing tax breaks to expire is an easy way to save some dollars. If you have eligible education expenses, be sure to claim the American Opportunity Credit while you can. Note health care info on W-2 When you get your 2012 W-2, you might notice some new information on the form. Box 12 is where employers will report the cost of your workplace's group health insurance coverage. This amount is both the amount th...