Tax forms question from a student

kcphobo
Fri, 06 Jun 2008 21:13:17 +0000

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.