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Stimulus rebates: better late than never

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in Small Business Tax

Q. My son graduated college in 2007 and was our dependent. He worked full time in 2008, but he didn’t get a stimulus rebate. Wasn’t he entitled to one? R.T., Frederick, Md.

Yes, assuming he was not affected by the phaseout rule. The economic stimulus rebates authorized last year were actually advance payments of credits against 2008 tax liability. But the rebates were based on tax return information for 2007 when your son was still your dependent. Assuming you did not claim your son as a dependent in 2008, he probably is entitled to a credit of up to $600. Claim the credit on Line 70 of Form 1040 (or Line 42A of Form 1040A or Line 9 of Form 1040EZ).

If your son filed his ’08 return without claiming the credit, he can file an amended return (Form 1040X).

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