Eic Question

[theresa d]

student age 25 earned 7300. Too old to be qualifying child of parent and earned to much income for parent to claim as dependent. meets all the test to qualify for EIC. Don't think that the fact that he is a studnet has any effect on EIC. am i correct? thanks

[geekgirldany]

as long as he is over 24 years old he can get the credit. Oh and no one else can claim him.

[theresa d]

thanks

thats what i thought

[Koss]

Student

In theory, if he was disabled, that might make him a dependent or qualifying child of his parents, even though he is over 25 and earned more than $3200.

I'm sure this alternate reality does not apply to your client.

FYI: Student status disqualifies the taxpayer from claiming the retirement savings credit.

I think Congress was smoking something when they inserted that provision.

(When they wrote the UDC section of WFTRA, they were snorting oxy.)

Burton