Do gap year students pay taxes?

I'm considering taking a gap year after I finish high school and want to know if I would need to pay taxes during that time. Does it depend on if I work a job, or is there more to it?

Your tax-filing status during a gap year would largely hinge on whether or not you have earned income. Earned income includes wages, salaries, tips, and other taxable employee compensation. If you obtain a job and receive a paycheck, you will receive a W-2 form from your employer at the end of the year, indicating how much you've earned.

If you earn more than a certain amount (this varies by year), you are required to file a federal income tax return. Some states will also require you to file a state income tax return if you earn over a particular amount. Also, even if you make less than this amount, if you had any federal income tax withheld from your pay during the year, you should still file a tax return to get a refund.

Also, if you're self-employed, different rules apply, and you'll have to pay self-employment tax if you earned more than $400 in the year. This would apply if you were doing contract or freelance work.

Lastly, keep in mind that your parents may still be able to claim you as a dependent on their own tax return if you're under 19 (or under 24 if a student) at the end of the year and you lived with them for more than half the year. However, you should consult a tax professional to further understand how your income and dependent status affect taxes, as everyone's situation is unique.