topic If I claim zero allowances on both my W4s, how can I owe federal taxes? in Get your taxes done using TurboTax

If I claim zero allowances on both my W4s, how can I owe federal taxes?

gabnalgus — Tue, 04 Jun 2019 19:18:58 GMT

SweetieJean — Tue, 04 Jun 2019 19:18:59 GMT

Do you have income other than wages?

gabnalgus — Tue, 04 Jun 2019 19:19:01 GMT

gabnalgus — Tue, 04 Jun 2019 19:19:02 GMT

One income is a job I am currently working and the other is my monthly annuity.

gabnalgus — Tue, 04 Jun 2019 19:19:03 GMT

I had the same situation last year and received a refund.

SweetieJean — Tue, 04 Jun 2019 19:19:05 GMT

Well, your credits such as (EIC) may have been different. Look at 2016 and 2017 side by side. Also check your data entry.

SweetieJean — Tue, 04 Jun 2019 19:19:06 GMT

Your annuity is not a wage.

But each withholding (say, 15%) is calculated as if is your only income. When you add them together, you can end up in higher tax bracket (say, 25%).