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Age. You have to stop claiming your child when she turns 19, unless she goes on to become a full-time student. In that case, you keep claiming the exemption until she's 24, as long as she meets the other qualifying-child tests. After a child reaches age 24, you can only claim her if she's completely and totally disabled.
If the child was born on December 30, you can claim the newborn as a dependent for that calendar year. If the child was born on January 1, you cannot claim the newborn on last year's tax return, but you'll be able to claim the child as a dependent when you file your taxes next spring. Before you claim a newborn on your tax return, you should know the specific requirements and benefits of having this new addition to your family.