College age dependent

[TravelBugJill]

My daughter is 18, a senior in high school. She is listed as a dependent, and is going to college.

Will she be considered a child for this proposed tax rebate. Or is $300.00 for the child under 17, under 18, or ones listed as dependents.

 

[Darcy03231]

The way I read it, its for dependent children 17 and under.

 

[Stephanie218]

So then do the children in college receive the $600 individual, or just don't get anything? Sorry, I'm a little confused after all the different options.

 

[TravelBugJill]

That's what I thought too.

That stinks, she was 17, and turned 18 in November. Still in H.S. till June.
She's costing us more now than when she was little. Was hoping they'd go by the dependents.

 

[Darcy03231]

The way I read it, anyone that made at least $3,000 will get $300. I'm guessing that includes college age dependants, as long as they made $3,000. If not, I guess they don't get anything.

 

[madge]

That's what I thought too.

That stinks, she was 17, and turned 18 in November. Still in H.S. till June.
She's costing us more now than when she was little. Was hoping they'd go by the dependents.

I feel your pain! Our oldest turned 18 last year, and he's still at home. He's a senior in HS - but no tax credit or rebate for him. He's more expensive to feed than my other two kids combined, LOLOL

 

[SCQ86]

That was my beef last year.... everything states 18 and over...except to the tax credit...it is 17 and under.....so then there is a whole year unaccounted for for my child???? Apprently.

 

[dismom24]

Does anyone know how it will affect a 17 year old who made approx. $5000 last year? DS is Still in high school, but works part-time (more hours duting the summer, so it adds up). I was wondering if he is eligible for his own check or if he will be on ours since he is still a dependent and lives at home.

 

[Cheshire Figment]

I'm a CPA. Anything about tax changes or rebates I would not believe until I see that "Congress has passed and the President has signed". Everything is conjecture until that happens (and then how it will be implemented by IRS).

 

[SCQ86]

Does anyone know how it will affect a 17 year old who made approx. $5000 last year? DS is Still in high school, but works part-time (more hours duting the summer, so it adds up). I was wondering if he is eligible for his own check or if he will be on ours since he is still a dependent and lives at home.

All I know is that whatever the child claims goes straight to your EFC estimated family contribution number. So for example.....if he made $500 for the year and your EFC, before his contribution was $5000...with his earned income the EFC goes up to $5500.

My son's counselor told me of a horror story that happened a year before my son's graduation. A kid had lost his parents in a car accident, and the life insurance went to him, in a trust to be given to him at age 25. FASFA calculation included that $50,000 of life insurance....he was give $0 for college. Poor kid...had no money from the gov and couldn't touch his trust for his tuition.

 

[OhMari]

Cheshire Figment I'm a CPA. Anything about tax changes or rebates I would not believe until I see that "Congress has passed and the President has signed". Everything is conjecture until that happens (and then how it will be implemented by IRS).

ITA, but I really have a sick feeling that there is going to be a gap with these 17-21 year olds that are dependents because they go to college or are still in highschool. I have a feeling they are not going to receive anything.

My 20 yr old son made $10,000 last year, works full time when he is off of school. Works Monday, Fridays and Sat. mornings and attends school Monday night till Thursday afternoon. It is a good paying job, but he is still our dependant because of stupid FAFSA. FAFSA makes students report their parents income while they are in school. They finally declare them "dependants of themselves when they turn 23.

He asked about the rebate, cause he knows he is our dependant and I told him, I won't see the money, and he probably won't either.