Rebate Dependent

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
Reply to
Billy
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.
Reply to
roggo
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.
Reply to
Alan

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