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It depends. There are two classifications, Child and Relative. If you do not qualify as a child, then yes, you made too much money to be a dependent.
Qualifying child
In addition to the qualifications above, to claim an exemption for your child, you must be able to answer "yes" to all of the following questions.
Only if you are a full time student, under age 24.
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.
A child (or other close relative) of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:
So, it doesn't matter how much he earned. What matters is how much he spent on support. Money he put into savings does not count as support he spent on him self.
There is a $4300 income limit for Qualifying Relatives.
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