Do children with income over $3000 who file their own return but are claimed as dependent by parent qualify?

22 year old college student who could be still claimed as dependent on parents return. Student earned more than $3000 in 07. Would it be better to have parents claim as dependent or student claim himself on his 07 return?? Will it make a difference on whether student gets the stimulus rebate?Do children with income over $3000 who file their own return but are claimed as dependent by parent qualify?
Claim him as a dependent if you are entitled to.





If your parents are eligible to claim you as a dependent, you will be ineligible for the rebate, but you may still benefit under the plan.





While the rebate depends on your 2007 status and income, it is actually a rebate toward your 2008 taxes. According to the proposed plan, in 2008, taxes would be cut from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.





So if you have taxable income in 2008, you will see a tax cut when you file in 2009.Do children with income over $3000 who file their own return but are claimed as dependent by parent qualify?
The student is properly claimed as a dependent on the parents' return. This will increase the rebate to the parents by $300, plus the parents will have the dependency exemption to reduce their taxable income.





The student is not qualified to claim his own exemption. If he improperly claimed his own exemption, it would likely be wasted as far as his tax refund is concerned. He may or may not receive the $300 rebate, this depends on the verification system of the IRS. As a dependent, he is not qualified to receive the rebate.





It would be better to correctly claim the student's dependency exemption on the parents return and if the parents want to give the student $300 of the rebate, that is up to the parents.
depends on just how much income the student made, if they made more like 20k it would make sense for him/her to file independent,, keep in mind that 22yr old student has to be full time college- aka 12%26gt; credits, anything less and they do not qualify, unless they live at home and go to college-- they can still qualify as a dependent then. Also take into consideration how much income the parents have, if they fall into the AMT catagory and this little deduction of 3400-- would allow them to move back down out of the AMT bracket -- it would be more beneficial to claim him. Also keep all your college book receipts -- they/we are looking harder at those, and the college should also send out 1098t forms showing how much you spent on college. TO many variables-- i would need more details:)
Someone claimed as a dependent isn't eligible for the rebate.
Go to irs.gov and search for dependents. There is a list of questions that you can through to find out which alternative is legal.

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