Who claims the dependent deduction when your teenager starts working?

Q: When your teenage son starts working and needs to file taxes, who claims the dependent deduction? Just the parent, just the kid, or both? —David, Eliot

The following answer was provided by Barbara Damon, CPA, Edelstein & Company, LLP.

A: The parent gets the dependent's exemption of $3,060 assuming you supported him. He is taxed on his income and does not get a personal exemption. However he does get the standard deduction up to the higher of $750 or his earned income plus $250 but not exceeding $4,750.

The following answer was provided by Mark Misselbeck, CPA, Levine Katz Nannis & Solomon PC, Needham.

A: As long as a child is under age 19 and a dependent (or under age 24 and a full-time dependent student), the parents supporting the child are entitled to the dependency exemption, regardless of the amount of income of the child.