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I downgraded my first answer to a comment because @DoninGA reminded me of something.
If you are under 19, or under 24 and a full time student, and you live at home, and you don't provide more than half your own living expenses, then your parents can claim you as a dependent. And legally, you must check the box that says "I can be claimed as a dependent by someone else" if you can be claimed, even if they agreed not to claim you.
Then, because you check the box that says "I can be claimed as a dependent", you can't claim a dependent of your own, only your parents (the grandparents) can claim the child.
However, if your income is high enough that you provide more than half your own support and your parents can't claim you as a dependent because of this, then you get first choice to claim your child. Your parents could claim the child instead of you if their income is higher and if you agree.
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