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The child (age 19) meets all the criteria of being a full-time student for the year, didn't earn over half of their support, etc However, he earned approx. $8,000 Can the parent's get the $500. credit or did he make too much money for them to get it? Does the over $4,150 limit apply to this? Just really confused on everything I have been reading. I have filled out the ODC checklist and when I answer the question about making more than the $4,150, it still calculates it on the return. The only way it doesn't is if you check the box that they don't qualify for it. Thanks to anyone that will clarify it for me.
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Yes, from what you have said it seems like they qualify for the $500 credit.
The child's income only comes into play if the child is age 24 or older (or age 19 or older and NOT a full-time student).