Rebate Dependent

Billy · Joined: 28 Aug 2007 Posts: 9

I claim my 21 year old son as dependent since he is a full time college
student.

He made $7300 in 2007 as a laborer and filed a return.

Will he be eligible for the tax rebate even though I claimed his a
dependent? ( realize I can't qualify for rebate for him because he is over
17)

thanks

bill

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Archived from group: misc>taxes>moderated

Alan · Joined: 12 Oct 2007 Posts: 93

Billy wrote:
> I claim my 21 year old son as dependent since he is a full time college
> student.
>
> He made $7300 in 2007 as a laborer and filed a return.
>
> Will he be eligible for the tax rebate even though I claimed his a
> dependent? ( realize I can't qualify for rebate for him because he is over
> 17)
No.. dependents are not eligible.

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roggo · Joined: 25 Aug 2007 Posts: 2

On Feb 22, 9:29 am, Alan wrote:
> Billy wrote:
> > I claim my 21 year old son as dependent since he is a full time college
> > student.
>
> > He made $7300 in 2007 as a laborer and filed a return.
>
> > Will he be eligible for the tax rebate even though I claimed his a
> > dependent? ( realize I can't qualify for rebate for him because he is over
> > 17)
>
> No.. dependents are not eligible.
>
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I've read on another forum that although he cannot claim the rebate
this year based on the 2007 tax returns as your dependent, that he
will on the 2008 tax return qualify for the rebate if, at that time,
he claims his own exemption, that is if he is no longer your dependent
for 2008 tax year.

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Alan · Joined: 12 Oct 2007 Posts: 93

roggo wrote:
> On Feb 22, 9:29 am, Alan wrote:
>> Billy wrote:
>>> I claim my 21 year old son as dependent since he is a full time college
>>> student.
>>> He made $7300 in 2007 as a laborer and filed a return.
>>> Will he be eligible for the tax rebate even though I claimed his a
>>> dependent? ( realize I can't qualify for rebate for him because he is over
>>> 17)
>> No.. dependents are not eligible.
>>
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> I've read on another forum that although he cannot claim the rebate
> this year based on the 2007 tax returns as your dependent, that he
> will on the 2008 tax return qualify for the rebate if, at that time,
> he claims his own exemption, that is if he is no longer your dependent
> for 2008 tax year.
>
That's true because there is no rebate. It is actually an advance
payment on a refundable tax credit for 2008. When any taxpayer
prepares their 2008 taxes they will compute how much of a tax
credit they are entitled to. They then subtract any advance
payment to see if any credit is left. If there is an additional
credit, they get it. If the advance payment was too large, they
do not have to pay it back.

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