Form W-4P Question

[Tammsbo]

I'm retiring May 1 and will start getting my pension in June.  My husband will continue working.  His annual pay is $40,200.  We file married jointly.  We have no other sources of income.  My question is about Step 2 line (2bi) what do I enter on this line?  I've had some friends tell me to leave it blank or put zero I don't know if this is right either.       

[LindaS5247]

You can leave section 2 blank on your Form W-4P. 

Since you or your husband are not working more than one job and you don't have any other income sources, your withholding should be sufficient.

There are W-4 calculators that you can use to determine if your withholdings will be adequate.

You can use this calculator to calculate your W-4 amounts.  Click here for  W-4 Calculator.

The IRS also has a Tax Withholding Estimator for Form W-4  Tax Withholding Estimator

Click here for "How do I update and print a new W-4?"

Click here for "Video: Guide to the W-4 Tax Form Employee's Withholding Allowance Certificate"

Click here for "Withholding Allowances: Are They Still Used on IRS Form W-4

Click here for Form W2-P.