Deductions & credits

The old rule of thumb used to be that the higher-earning spouse claimed all of the dependents and the lower-earning spouse claimed zero dependents.

However, under the new tax law with the deduction for dependents replaced by a credit, this method is less accurate.

If you haven't filed your 2019 return yet, use the power of TurboTax to generate a new W-4 form. 

If you have already filed your 2019 return? Use the TurboTax online W-4 Withholding Calculator at TurboTax.com instead.

Here's how to generate and print a new W-4 using TurboTax. We recommend having your most recent pay stub handy:

1. Open or continue your return.
2. Inside TurboTax, search for W4 and select the Jump to link.
3. Answer Yes to Do you want to change your W-4 withholdings for 2020?
4. The following screens will ask you for your filing status, number of dependents, expected income, deductions, and other factors. Answer the questions as best you can for the most accurate result.
5. You'll eventually come to Print Form W-4 Results. Select the button(s) to print your W-4 form(s).
6. Print (or make) a second copy for your records and give the original to your payroll department. Do not file the W-4 with your tax return.

How do I update my 2019 withholdings and print a new W-4?