Our 67-year-old now starts to pay, starts to receive from Social Security, and the amount that the person could expect to receive from Social Security drops down. It drops down because of the probability of the person being alive. Social Security, unlike private retirement funds, is subject to a 100 percent estate tax.
You can't claim a dependent at all if you qualify as someone else's dependent. For example, if you're younger than 24, go to school full-time, and if you lived with your parents half the tax year and contributed less than half of your own support, you can't claim your child under any circumstances.
You must use Form 1040 or Form 1040A to claim dependents. When you have a child but you're not married, you can end up fighting over who gets to claim the kid as a dependent. In the same way you can't split a baby in half, you can't split the exemption for claiming the child as a dependent.