Get SC DoR SC1041 2017

$12,000 for single filers and those married filing separately. $18,000 for those filing as head of household. $24,000 for married couples filing jointly and qualifying widow(er)s.

For single dependents who are under the age of 65 and not blind, you generally must file a federal income tax return if your unearned income (such as from ordinary dividends or taxable interest) was more than $1,050 or if your earned income (such as from wages or salary) was more than $12,000.

For single dependents who are under the age of 65 and not blind, you generally must file a federal income tax return if your unearned income (such as from ordinary dividends or taxable interest) was more than $1,050 or if your earned income (such as from wages or salary) was more than $12,000.

The minimum income amount depends on your filing status and age. In 2018, for example, the minimum for single filing status if under age 65 is $12,000. If your income is below that threshold, you generally do not need to file a federal tax return.

How much do you need to make to file taxes in 2019? Not all Americans need to file a federal tax return. Those who don't earn enough in income aren't required to by law. Whether you make the cut depends on your filing status and age.

If you're a single filer who was under the age of 65 at the end of 2017, and you earned less than $10,400, you generally do not have to file taxes this year.

Filing Requirements for Dependents You must file a 2018 tax return in any of the following circumstances if you're single, if someone else can claim you as a dependent, and if you're not age 65 or older or blind: Your unearned income was more than $1,050. Your earned income was more than $12,000.

For tax years after 2017, a minor who may be claimed as a dependent has to file a return once their income exceeds their standard deduction. For tax year 2018 this is the greater of $1,050 or the amount of earned income plus $350.

Do I need to file a South Carolina return? If you are a South Carolina resident, you are generally required to file a South Carolina Income Tax return if you are required to file a federal return. ... Individual Income Tax returns are due April 15 of each year.

Anyone over 65 who earned more than $15,000 (single) or $30,000 (married, filing jointly) is required to file a South Carolina state tax return. South Carolina taxes its residents on all income earned even if that income was earned outside of South Carolina. Use Form-1040 to file your South Carolina tax return.

OnLine Taxes at OLT.com® offers free federal and free South Carolina online tax preparation and e-filing for taxpayers who meet one the following qualifications: Your Adjusted Gross Income (AGI) is between $14,000 and $66,000 regardless of age.

There is no intangibles tax in South Carolina. An intangibles tax is collected in many states that do not have a general personal income tax and is imposed on bank accounts, interest, dividends, stocks, bonds and other assets. ... A credit is allowed for income taxes paid to another state on income taxable in both states.

Accordingly, the taxpayer can use its pre-ownership change South Carolina NOL carryforward to offset up to $35,000 of its South Carolina taxable income in each year following the ownership change.

Loss carryforward refers to an accounting technique that applies the current year's net operating loss (NOL) to future years' net income to reduce tax liability. ... This results in lower taxable income in positive NOI years, and reduces the amount the company owes the government in taxes.

You Can Apply Your Loss Only to Future Years This is called carrying a loss forward. You can carry your NOL forward to any number of future years until it is used up. However, you are allowed to deduct NOLs only up to 80% of taxable income for the carryforward years (not counting the NOL deduction).