A child can be a parent’s dependent if under age 24 and a full-time student who does not provide more than half of his/her support. A full-time student means the child is enrolled in school on a full-time basis for at least part of five months during the year. You must decide whether your son meets these tax requirements to be treated as your dependent.
An amount of gain on the sale of certain depreciable property that is treated as ordinary income in the case of personal property. Recapture is computed on Form 4797.