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No.
There
are two types of dependents, "Qualifying Children"(QC) and standard ("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, a relationship test and a residence test.
Being a full time student extends the age limit for being a QC, but only to age 23. At 29, you child cannot be a QC (unless he is disabled). The $4050 income test applies, in your case.
No.
There
are two types of dependents, "Qualifying Children"(QC) and standard ("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, a relationship test and a residence test.
Being a full time student extends the age limit for being a QC, but only to age 23. At 29, you child cannot be a QC (unless he is disabled). The $4050 income test applies, in your case.
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