May 6, 2008

Q & A: Stimulus Rebates at 18 Years Old?

QUESTION: I am 18 years old and made over $3,000 this past year. My parents could and did claim me as a dependent. Judging from everything I've read, that means I don't get any rebate. However, since I'm over 17, my parents couldn't get anything for me. I received a letter from the IRS saying I was eligible. So does this mean I'm getting something or are the 18-20 year olds getting screwed over?

ANSWER: You are eligible for the $300 rebate check since your earned income was over $3,000 for 2007. Dependent children who reached the age of 17 during 2007 are not considered eligible for the additional $300 rebate for taxpayers that otherwise could claim them on the 2007 tax return.

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