|
|
Joined: Nov 2006
Posts: 326
1st String
|
OP
1st String
Joined: Nov 2006
Posts: 326 |
I am wondering if I will getting the money back or not... I am a college student, but work part time and make over $12,000/yr. I'm still living with my parents and they're still claiming me on their taxes.
I pay taxes so shouldn't I get the $600.... or will my parents just get the $300 for having a child?
It's all pretty confusing and I can't seem to find the answer anywhere... does anyone know if I may get it?
|
|
|
|
|
Joined: Sep 2006
Posts: 9,955
Hall of Famer
|
|
Hall of Famer
Joined: Sep 2006
Posts: 9,955 |
Last edited by DawgMichelle; 02/22/08 07:21 PM.
#gmstrong #gmlapdance
|
|
|
|
|
Joined: Sep 2006
Posts: 39,550
Legend
|
|
Legend
Joined: Sep 2006
Posts: 39,550 |
If your parents are getting the deduction, I believe they will be entitled to the the bonus check.
If everybody had like minds, we would never learn. GM Strong ![[Linked Image]](http://www.dawgtalkers.net/uploads/small-gator-chomp.gif)
|
|
|
|
|
Joined: Nov 2006
Posts: 326
1st String
|
|
OP
1st String
Joined: Nov 2006
Posts: 326 |
wow that is rediculous!!! So my parents will not get money for me because I am over 18... and I won't get money because I am a college student?
|
|
|
|
|
Joined: Sep 2006
Posts: 39,550
Legend
|
|
Legend
Joined: Sep 2006
Posts: 39,550 |
Quote:
wow that is rediculous!!! So my parents will not get money for me because I am over 18... and I won't get money because I am a college student?
One of you will. If they claim you, they do. If not, you do.
Did I say something different??
If everybody had like minds, we would never learn. GM Strong
|
|
|
|
|
Joined: Sep 2006
Posts: 9,955
Hall of Famer
|
|
Hall of Famer
Joined: Sep 2006
Posts: 9,955 |
According to the link I posted:
For rebate purposes, a qualifying child is one who is younger than 17. That means that taxpayers who claim an older college student as a dependent won't get the extra money.
Neither will college kids themselves be happy. The rebate bill specifically makes dependents, or even those who could be claimed as a dependent, ineligible for the rebate. So students who can be claimed by parents won't get rebates even if they held jobs outside class that otherwise would have qualified them for the money.
"The kid may have $3,000 in income, but his parents are paying much more for his college expenses so he's a dependent," says Bob D. Scharin, RIA senior tax analyst form Thomson Tax & Accounting. "It does seem unfair that the child can't claim the rebate."
#gmstrong #gmlapdance
|
|
|
|
|
Joined: Sep 2006
Posts: 11,465
Legend
|
|
Legend
Joined: Sep 2006
Posts: 11,465 |
It's essentially up to your parents. If they claim you, no...if they do, yes. Do they pay for your education? Could you survive on your current course without them? If the answer is yes to 1 and no to 2, then they have every right to claim you and you get nada. Otherwise...fight it out. 
|
|
|
|
|
Joined: Sep 2006
Posts: 9,955
Hall of Famer
|
|
Hall of Famer
Joined: Sep 2006
Posts: 9,955 |
They claim him on their taxes as a dependent, but they get no rebate money for him because he's over 17. He gets no rebate money because someone else can claim him.
Makes no sense.
#gmstrong #gmlapdance
|
|
|
|
|
Joined: Jan 2007
Posts: 8,427
Hall of Famer
|
|
Hall of Famer
Joined: Jan 2007
Posts: 8,427 |
You're almost EXACTLY like me, we're in the same boat here. It is kind of stupid just because I'm over 18 that I will not be getting that extra stimulus. But oh well, I 'll still get all of my tax return money. 
Find what you love and let it kill you.
-Charles Bukowski
|
|
|
|
|
Joined: Nov 2006
Posts: 326
1st String
|
|
OP
1st String
Joined: Nov 2006
Posts: 326 |
I'm still pretty confused about it... and hell I only get $450 back from what I paid in. This pretty much blows either way it works out on my end.
|
|
|
|
|
Joined: Sep 2006
Posts: 1,210
Dawg Talker
|
|
Dawg Talker
Joined: Sep 2006
Posts: 1,210 |
I might sorta be in the same boat as you guys.
I'm a college student, but my parents don't claim me and haven't claimed me for 2-3 yrs. now. I have zero tax liability becuase I pay my tuition either out of pocket or by student loans. I made just shy of 13k last year and will get 1240 back from my taxes.
And because I made more than 3k, but I have no tax liability I get shafted too. I think, from what I've read on the link that Michelle posted.
LIbertatem Defendimus!!
2010 Dawgtalkers NCAA Bracket Challenge Champ!!
|
|
|
|
|
Joined: Oct 2006
Posts: 1,671
Dawg Talker
|
|
Dawg Talker
Joined: Oct 2006
Posts: 1,671 |
If you pay no net federal income taxes why would you expect a rebate return on your earnings?
The American people will never knowingly adopt Socialism. But under the name of 'liberalism' they will adopt every fragment of the Socialist program, .
|
|
|
|
|
Joined: Sep 2006
Posts: 5,718
Hall of Famer
|
|
Hall of Famer
Joined: Sep 2006
Posts: 5,718 |
And people ask why there is a deficit......
|
|
|
|
|
Joined: Oct 2006
Posts: 2,032
Dawg Talker
|
|
Dawg Talker
Joined: Oct 2006
Posts: 2,032 |
Now this does go for your 2008 taxes, so while you may not get a rebate in May/June, you may get it on your 2008 taxes if you are able to claim yourself (perhaps you graduate this year).
#gmstrong
|
|
|
|
|
Joined: Sep 2006
Posts: 1,210
Dawg Talker
|
|
Dawg Talker
Joined: Sep 2006
Posts: 1,210 |
how about you ask that question to all those social security receipients that whined to congress in order to get some of it? Or the people that make less than 3k that are getting $300.
LIbertatem Defendimus!!
2010 Dawgtalkers NCAA Bracket Challenge Champ!!
|
|
|
|
|
Joined: Nov 2006
Posts: 326
1st String
|
|
OP
1st String
Joined: Nov 2006
Posts: 326 |
Quote:
Now this does go for your 2008 taxes, so while you may not get a rebate in May/June, you may get it on your 2008 taxes if you are able to claim yourself (perhaps you graduate this year).
I do graduate in May...
I just think it is crazy that I paid the government nearly $2900 this year and I am not getting anything from the stimulus package because I am in college and my parents are helping me pay like 25% of tuition.
|
|
|
|
|
Joined: Sep 2006
Posts: 2,836
Steeler
|
|
Steeler
Joined: Sep 2006
Posts: 2,836 |
Quote:
my parents are helping me pay like 25% of tuition.
What else do they pay??
|
|
|
|
|
Joined: Oct 2006
Posts: 1,671
Dawg Talker
|
|
Dawg Talker
Joined: Oct 2006
Posts: 1,671 |
"And because I made more than 3k, but I have no tax liability I get shafted too. I think, from what I've read on the link that Michelle posted"... How can you have no tax liability and therefore paid no net income taxes and think you should be getting someone else's money??? Quote:
how about you ask that question to all those social security receipients that whined to congress in order to get some of it? Or the people that make less than 3k that are getting $300.
Did they teach you in school to justify an unjust demand all you need to do is to point to another granted unjust demand??? Where does it ever end?
The American people will never knowingly adopt Socialism. But under the name of 'liberalism' they will adopt every fragment of the Socialist program, .
|
|
|
|
|
Joined: Sep 2006
Posts: 27,306
Legend
|
|
Legend
Joined: Sep 2006
Posts: 27,306 |
For all those college students out there. Why don't your parents do what I did? My daughter figured her taxes with ZERO exemps, and with one. I paid her the difference in cash, ans still saved 1900 on my own taxes.
I AM ALWAYS RIGHT... except when I am wrong.
|
|
|
|
|
Joined: Sep 2006
Posts: 11,465
Legend
|
|
Legend
Joined: Sep 2006
Posts: 11,465 |
Quote:
For all those college students out there. Why don't your parents do what I did? My daughter figured her taxes with ZERO exemps, and with one. I paid her the difference in cash, ans still saved 1900 on my own taxes.
I'm familiar with that line of thinking, and it's generally an agreeable one.
|
|
|
|
|
Joined: Oct 2006
Posts: 2,032
Dawg Talker
|
|
Dawg Talker
Joined: Oct 2006
Posts: 2,032 |
BTW... I got screwed out of the last rebate because I was able to be claimed by my parents... I wasn't that overly concerned about it
#gmstrong
|
|
|
|
|
Joined: Sep 2006
Posts: 1,210
Dawg Talker
|
|
Dawg Talker
Joined: Sep 2006
Posts: 1,210 |
My dad did that til I saved him less money than I would get filing on my own.
I'm not that concerned about not getting the rebate, I'll take my 1200 tax refund over 300 on the rebate everyday of the week.
LIbertatem Defendimus!!
2010 Dawgtalkers NCAA Bracket Challenge Champ!!
|
|
|
DawgTalkers.net
Forums DawgTalk Tailgate Forum STIMULUS PACKAGE QUESTION....
|
|
