Change in Income and Daughter in College

Forum|Forum|2 years ago
May 29, 2024
1 reply
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I have 1 salaried job and my daughter was a freshman in college starting in August last year. I came to the new job in October of last year. Prior to that I was a contractor. I owed money on last year's taxes and this year's taxes. I don't want to owe next year. I'm not sure how to set up my W4 to make this happen.

Ask the Experts - W-4 II - May 2024

evelynm

Level 6

Turbo Tax has a W-4 tax calculator that will facilitate a new W-4 for you. In the personal information section of the tax calculator you will be able to determine the eligibility for claiming your daughter by selecting the question marks for further details. You and/or your daughter may be eligible for education credits for college. Here is the link to the W-4 tax calculator https://turbotax.intuit.com/tax-tools/calculators/w4/ and Sending Kids to College tax tips https://turbotax.intuit.com/tax-tips/college-and-education/sending-kids-to-college/L0I7clLFg.

Have an amazing day. Evelyn M (CPA 20+ years). I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer".