<p>I got a job, and if I won’t quit, I’ll make about $4000 during the remainder of the year. Would it be more advantageous to file independently or as a dependent of my parents? </p>
<p>I don’t know who else to ask… please treat my total ignorance on the subject with kindness!</p>
<p>You don’t make enough to get any benefit from claiming yourself on your return. You won’t pay any tax even if you don’t claim yourself. </p>
<p>It’s always good to ask questions and understand what’s going on.</p>
<p>And whether you file independently or as a dependent of your parents also doesn’t make any difference for financial aid purposes. You’ll still be considered a dependent for financial aid even if you file taxes independently.</p>
<p>Let your parents take the deduction.</p>
<p>I always thought that if your parents CAN claim you as a dependent, regardless of whether they choose to or not, then you CANNOT get that deduction.</p>
<p>For tax year 2007 the standard deduction for a single taxpayer was $5,350, and it will be higher for 2008. As long as you make less than that amount you will not have taxable income as a dependent. No doubt your parents can benefit from your exemption is you still qualify as a dependent.</p>