When determining whether you NEED to file a federal tax return, each of these questions matters EXCEPT…

a. How much income did you earn this year?
b. What type of income did you earn this year?
c. What state do you live in?
d. Are you claimed as a dependent on anyone else's tax return?

Respuesta :

Each of these questions matters when evaluating whether you must submit a federal tax return, with the exception of How much income did you earn this year.

What is income?

Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is mainly shown in the medium of exchange terms. Income is difficult to define conceptually, and the explanation may be different across pieces of ground For example, a person's income in an economic sense may be different from their income as defined by law.

It's not necessary for everyone to file their taxes. Your income, filing status, age, and if you have a particular circumstance all play a role in whether you need to submit your taxes. Even if you are exempt from filing taxes, you may still want to apply for tax perks and credits.

Therefore, How much income did you bring in this last year? Option (A) is correct, therefore.

Learn more about income here:

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