I apologize if this is a repost, did a quick search and did not find what I wanted to know.
This whole GW tax incentive has me slightly confused…
My question is this… since I am claimed as a dependent on my parents tax return (still a student), will I be receiving the $500 ? I have heard both sides and cannot seem to find a solid answer.
Thanks in advance.
Economic Stimulus Payment Calculator
You do not qualify for an economic stimulus payment
The Economic Stimulus Act of 2008, which authorized the pre-payment of this one-time credit, stipulates that the payment is not to be made to any of the following:
Individuals who can be claimed as a dependent on someone else’s tax return;
I guess i do not qualify. Thanks for the link though, very helpful.
your parents get extra money for you. i would hit them up for it.
^ they only do if they meet the requirements for claiming him as a dependant
oh and your parents will only get their extra $300/kid for the stimulus package if you are 17 or under… fine print reading! make sure they know thisss
Economic Stimulus Payment Calculator
You do not qualify for an economic stimulus payment
According to law, the economic stimulus payment amount that everyone other than married couples filing jointly would otherwise be entitled to receive is reduced by 5% of the amount that their Tax Year 2007 Adjusted Gross Income exceeds $75,000. You would have been eligible for an economic stimulus payment of $300, but your AGI exceeds $75,000 by enough to reduce that amount to zero.
However, if your situation changes during 2008, you may be able to claim an economic stimulus credit on your Tax Year 2008 return.
well, this is what i figured, but here it is in writing.
I’m sure all the people making less than you feel bad for you.
X…
i feel bad for me. 
They’ll get it, but I doubt i’ll get my folks to fork it over.
Seeing as they support your ass.