I believe this is a peculiar quirk of the American opportunity credit. There are some times when a child who can be claimed as a dependent and is a college student will get a larger credit than their parent. This most often happens when the parents income is too high to qualify for the full credit, but it also only works if the child has a reasonably substantial income of their own.
As long as you understand that the child’s return must still check the box that says I can be claimed as a dependent, even though you will not be claiming him. Failing to check that box would make the child eligible for the stimulus credits, which would constitute tax fraud. Most people go no farther than that.
The follow up question of “will the person who can claim you actually claim you“ only applies to the American opportunity credit, and if your family’s combined refund is larger by answering no to that question and then you not claiming your child as a dependent, you are entitled to do that.
