Tim is 16 years old,a high school student, and lives with hi parents.He earned $5,200 and his part-time job. Select the best possible answer.(Only 1 answer)

Tim Is 16 Years Old,a High School Student, And Lives With Hi Parents.He Earned $5,200 And His Part-time

Answers

Answer 1

Answer:

the second one

Explanation:

prettyu sure,

only can claim is tim parents and he has no other choice but to return the file tax return

Answer 2

Current tax laws allow Tim's parents to claim Tim as a dependent; Tim has the option to file a tax return

According to the IRS, Tim can be claimed as a dependent by his parents because:

He is their son He is a student who is younger than 23 He lives with his parents

He also has the option but not the obligation to file a tax return because his gross income is less than $12,200 as a dependent.

In conclusion, Tim can be claimed as a dependent by his parents but he does not have to file a tax return.

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