Hope I will get a short answer. I had a set amount deducted from my pension, since I retired in 2018. I had a flat rate easily set, using the W4, which could be altered as need be, from year to year. Now the W4-P is a different animal. I believe I have the info I need to accomplish the amount I want withheld, using the new form.
Example: I want a total of $200 withheld.
So Step 1, line c: status: married filing jointly.
The amount the payee (me) makes is $2190 monthly. The payor (who I get my pension from) calculates the withholding amount, using the Wage Bracket Method Tables from Publication 15-T. The corresponding withholding amount for $2180, married filing jointly, is $117.
I skip steps 2 and 3 as they do not apply.
Without specifying anything else, the total withholding would be $117, which is short $83 of what I want.
So, I go to Step 4 (c) and enter the “extra withholding” of $83. This will make the total withholding from my monthly pension, $200. Sign and done 😊
