EIC Question

[geekgirldany]

Question on EIC. Child turn 19 in April 05 and graduated highschool in May 05. Father said he hasn't started college yet but will. Is taking some time off before going.

Now the EIC question ask if child was under age 24 and student at the end of the year. I think he was a student for half the year but not at th end. So I do not think the taxpayer qualifies for EIC on his son. Is this right?

[jainen]

doesn't qualify

Full-time student for any part of five calendar months during the year. Sounds like he doesn't qualify.

[geekgirldany]

thank you. its good to double check.

[RLymanC]

Eic

To meet the age test, the child must be under age 19 at the end of the taxable year, or under age 24 at the end of the taxable year and a full–time student during any part of any 5 months during the taxable year, or any age if permanently and totally disabled. Refer to Chapter 2, Rules if you have a qualifying child, in Publication 596 for exceptions to the time your child must have lived with you.

NOTE: Any part of any 5 months. If he was full time up until May I believe he qualifies for the EIC.

[geekgirldany]

Okay I did not see this RLyman. Thank you for pointing this 5 months out. Jainen mentioned the 5 months also but said he doesn't qualify I think I know why. I looked at pub 596. It states:

Student defined. To qualify as a student, your child must be, during some part of
each of any 5 calendar months during the calendar year:
1. A full-time student at a school that has a regular teaching staff, course of study, and
regular student body at the school, or
2. A student taking a full-time, on-farm training course given by a school described in
(1), or a state, county, or local government.
The 5 calendar months need not be consecutive.

So he went to highschool from Jan til May 28. I looked up last years graduation date. He is really just right under 5 months by a few days. He was held back a year the reason he graduated a year late. Hmmm. So now I don't know. It is just right under 5 months.

[jainen]

I was wrong

No, I was wrong. I saw April and misread it as graduation. Jan to May is five months, so he is a qualifying child for dependency and EIC unless he provided more than 50% of his own support.

[geekgirldany]

Thanks guys. I thought those couple of days might make a difference. They will get back an extra 400. He still lives with his father and did not claim himself in 2005. Father supported him.

[Bill Tubbs]

5 months

So he went to highschool from Jan til May 28. I looked up last years graduation date. He is really just right under 5 months by a few days. He was held back a year the reason he graduated a year late. Hmmm. So now I don't know. It is just right under 5 months.

The 5 months does not have to be 5 ENTIRE months. Jan 31 to May 1 would qualify. One day of January = 1 month; 1 day in May = 1 month; Feb-April = 3 months.

Take a look at your quote of:
>>Student defined. To qualify as a student, your child must be, during some part of
each of any 5 calendar months during the calendar year:<<

Particularly the "DURING SOME PART OF".

Bill