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.
In order to claim a child as a dependent, you need to be able to confirm the child is related to you (including foster children, adoption, stepchildren); that you provide over half of his or her financial support; that you are the only person claiming that child; and that he or she is under age 19, or if a full-time student, under age 24.