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Author: Prettygenius Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Tax rebate Date: 6/9/2001 10:24 AM
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Welcome to the tax streamlining and simplification act of 2001 (smile)!

My question has to do with the "rebate". I'm a graduate student, and expect to have my M.A. completed sometime in August. My tax bill for last year was $458.

I'll get to the point and ask the obvious questions. (1) Am I going to receive a check for 1/3 of that? (2) How does this affect my tax return for next year?

Thanks,

Prettygenius.
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 51665 of 121114
Subject: Re: Tax rebate Date: 6/9/2001 12:43 PM
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I'm a graduate student, and expect to have my M.A. completed sometime in August. My tax bill for last year was $458.

I'll get to the point and ask the obvious questions. (1) Am I going to receive a check for 1/3 of that?


Maybe. If you were claimed as someones dependent you'll get nothing. Otherwise you'll get $153.

(2) How does this affect my tax return for next year?

It's too soon to tell. The answer depends on your income for 2001. There will be a worksheet that might result in a credit you claim on your 2001 return. In the interest of sanity and your exams, I recommend you wait until you start working on your 2001 return to worry about it.

Phil Marti
VITA Volunteer


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