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June 4, 2019
Question

How to change no of allowances in W4? Its not allowing "2" as : "1" for yourself if no one else can claim you as dependent & "1" if You are single & have 1 job

  • June 4, 2019
  • 1 reply
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1 reply

June 4, 2019

Sounds like those are two allowances for the same/similar question. Either way, you will be submitting your W-4 to your employer so it's something that can be written in by hand. Most payroll companies also offer a way to change your W-4 withholding online.

That being said, the more allowances you put, the less taxes are taken out of your paychecks and with 2 allowances it could cause you to owe when it is time to file. You might be best as Single 1 to break you even at the end of this year.

Try these steps to update your W-4 in TurboTax if you haven't filed your 2017 return yet.

If you already filed for 2017, we'll show you another way to change your W-4.

Changing your W-4 before filing

Tip: The W-4 feature inside the TurboTax software minimizes your refund, putting more money in your paycheck. If your goal is a bigger refund, follow the directions in the after filing section, below.

  1. Open (continue) your return in TurboTax, if you don't already have it open.
  2. Inside TurboTax, search for W-4 or W4 (lower-case also works) and then select the "Jump to" link in the search results.
  3. Answer Yes to Do you want to change your W-4 withholdings for 2018?
  4. Follow the onscreen instructions to verify your info and provide estimates of your future income.
  5. Eventually, you'll come to the Print Form W-4 Results screen (about 16 or 17 screens in). From here, you can print your W-4.
  6. Print (or make) another copy; give one to your payroll department and keep the other with your tax records.
Changing your W-4 after filing

You'll need your most recent paystub.

  1. Go to the TurboTax W-4 Withholding Calculator.
  2. Proceed through the screens, answering questions about your family status, pay, and deductions.
  3. When you get to the Results screen, move the slider (under Congratulations!) to see how different withholding allowances affect your refund and take-home pay.
  4. Once you've settled on an allowance, click or tap Print a blank W-4 and enter that number on line 5 of the W-4 (bottom half of page 1).
  5. Fill out lines 1 – 3 (and 4, if it applies) on the W-4, print it out, and sign and date it.
  6. Make a copy for your tax records and give the printout to your employer.


 

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