2Ls - Are you filing taxes this year? Forum

[random5483]

Not sure if I need to file taxes this year. I have not earned any money since June 2010 and will not receive any income till June/July 2012. However, I did earn ~50k a year for 3 years between 2007 and 2010.

Do I need to file taxes for 2011? I assume I don't need to because I had zero income (I did have a scholarship and some student loans/grants). Is there any benefit to filing taxes?

I assume some other 2Ls have the same question. I have asked some classmates and most seem unsure like myself. Do any of you 2Ls in a similar situation know the answer?


Thanks.

[ben4847]

If you really had zero income, there is no benefit in filing taxes unless there is some refundable tax credit which you are eligible for. (Like if you are a volunteer EMT, and have a car, you get 200 buck).

Now, if you are a "qualifying child," you should make sure your parents are claiming your valuable standard deduction. http://www.irs.gov/newsroom/article/0,, ... 98,00.html

[random5483]

If you really had zero income, there is no benefit in filing taxes unless there is some refundable tax credit which you are eligible for. (Like if you are a volunteer EMT, and have a car, you get 200 buck).

Now, if you are a "qualifying child," you should make sure your parents are claiming your valuable standard deduction. http://www.irs.gov/newsroom/article/0,, ... 98,00.html

Thanks, that is what I thought. Just wanted to make sure because I filed income taxes the three preceding years. Unfortunately, I am not a qualifying child (age limit is 23 right?) because I took 3 years off school to work between undergrad and law school.

[goodolgil]

Isn't there something you get from paying tuition (even if from loans?). Because I made almost the same amount of money in 2010 as I did in 2009 but yet got a massive refund in 2010 (when I started school) and not in 2009. Though I suppose that may have been because I was having taxes withheld for a higher bracket than my annual income since I stopped working in August.

[ben4847]

I am not a lawyer.

If you really had zero income, there is no benefit in filing taxes unless there is some refundable tax credit which you are eligible for. (Like if you are a volunteer EMT, and have a car, you get 200 buck).

Now, if you are a "qualifying child," you should make sure your parents are claiming your valuable standard deduction. http://www.irs.gov/newsroom/article/0,, ... 98,00.html

Thanks, that is what I thought. Just wanted to make sure because I filed income taxes the three preceding years. Unfortunately, I am not a qualifying child (age limit is 23 right?) because I took 3 years off school to work between undergrad and law school.

That's why I linked the IRS website. You must be still 23 at the end of 2011. http://www.fourmilab.ch/ustax/www/t26-A-1-B-V-151.html

Isn't there something you get from paying tuition (even if from loans?). Because I made almost the same amount of money in 2010 as I did in 2009 but yet got a massive refund in 2010 (when I started school) and not in 2009. Though I suppose that may have been because I was having taxes withheld for a higher bracket than my annual income since I stopped working in August.

Pretty sure the one for grad students is not a refundable credit, so you wouldn't get it unless you were paying taxes. See http://taxes.about.com/od/deductionscre ... Credit.htm

[random5483]

I am not a lawyer.

If you really had zero income, there is no benefit in filing taxes unless there is some refundable tax credit which you are eligible for. (Like if you are a volunteer EMT, and have a car, you get 200 buck).

Now, if you are a "qualifying child," you should make sure your parents are claiming your valuable standard deduction. http://www.irs.gov/newsroom/article/0,, ... 98,00.html

Thanks, that is what I thought. Just wanted to make sure because I filed income taxes the three preceding years. Unfortunately, I am not a qualifying child (age limit is 23 right?) because I took 3 years off school to work between undergrad and law school.

That's why I linked the IRS website. You must be still 23 at the end of 2011. http://www.fourmilab.ch/ustax/www/t26-A-1-B-V-151.html

Isn't there something you get from paying tuition (even if from loans?). Because I made almost the same amount of money in 2010 as I did in 2009 but yet got a massive refund in 2010 (when I started school) and not in 2009. Though I suppose that may have been because I was having taxes withheld for a higher bracket than my annual income since I stopped working in August.

Pretty sure the one for grad students is not a refundable credit, so you wouldn't get it unless you were paying taxes. See http://taxes.about.com/od/deductionscre ... Credit.htm

I know you are not a lawyer and was not looking for legal advice My total tax liability for 2011 does not warrant such an expenditure (not to mention I never made the kind of money that would warrant such an expense!).

I do appreciate your input though. I was fairly sure I did not need to file taxes, but I wanted to make sure other similarly situated 2Ls were doing the same thing!


Thanks.

[ben4847]

I am not a lawyer.

I know you are not a lawyer and was not looking for legal advice

I'm just being OCD about the bar question which asks if you've ever represented yourself as a lawyer.

[random5483]

I am not a lawyer.

I know you are not a lawyer and was not looking for legal advice

I'm just being OCD about the bar question which asks if you've ever represented yourself as a lawyer.

I think the fact that this is a law student forum is a sufficient disclaimer. I do understand your concern though!