I claim 0 on my W-4 and thought my refund would be more. Does Turbotax automatically calculate 1 for single filers?

Forum|Forum|3 years ago
January 16, 2023
4 replies
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How can I change my withholding from zero when filing my taxes?

TurboTax Free Edition Online

VolvoGirl

Level 15

You can't. The withholding on your W4 is just an estimate to cover the tax on your income. Just fill out your tax return with your personal info and any dependents you have. What you select on the W4 doesn't have to match your tax return. For now you can give your employer a new W4 and add some extra withholding for next year's tax return.

xmasbaby0

Level 15

You cannot change anything on your W-2 now. It is what it is. The amount in box 2 of your W-2 cannot be changed. But if you want to change your withholding going forward for tax year 2023, you can fill out a new W-4 for your employer and have them change it for the upcoming year.

https://www.irs.gov/pub/irs-pdf/fw4.pdf

https://www.irs.gov/individuals/tax-withholding-estimator

And remember---if you have more tax withheld so that you get a bigger refund next year, all you are doing is giving the IRS an interest free loan.

We cannot see your screen, your return or your account. Have you entered ALL of your 2022 information? All your income, etc.? Many tax documents that you need do not arrive until late January or even February, so maybe you do not have it all there yet.

There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc. You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17? If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC) Are you 65 or older ? If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.

And…..the child tax credit is very different for 2022 For 2021 you could get $3600 for a child under 6 or $3000 for a child between 6 and 17 even if you had no income/did not work. That is NOT the way it will work for your 2022 tax return. The “old” rules are back. The maximum amount of the child tax credit is now $2000; the refundable “additional child tax credit” amount is $1500. In order to get that credit, you have to have income from working. The credit is calculated based on the amount you earned above $2500 multiplied by 15%, up to the full $1500. If your child is older than 16 at the end of 2022, you do not get the CTC. But you may still get the non-refundable $500 credit for other dependents instead.

And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.

https://ttlc.intuit.com/questions/1901008-why-did-my-refund-go-down-compared-to-last-year-s

Print out 2021 and 2022 and compare them side by side to see what is different.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Ravenstar11Author

Level 2

My return is super simple. No child tax credit. Single filer with 1 W-2. None of the deductions I used to take mean anything anymore with the new standard deduction, so I have no control over that.

During the year I claim zero so I don't have to pay taxes at the end of the year. For 2022 so far (I still have a 1098 that hasn't arrived yet) I'm getting $16 back federal. I wasn't looking to make bank, but if I had claimed myself during the year I'd have to pay right now.

Each year in the past, I have claimed zero on my W-4 and then claimed one when I file. My question was: does TurboTax automatically claim 1 for me when I file? There's no way I'm going to claim more on my W-4 when I'll have to pay in if I do.

VolvoGirl

Level 15

Turbo Tax doesn't claim 1 or anything on your tax return. You automatically claim yourself by entering your name and info. Unless you check the box that says you can be claimed on someone else's return. There are no more personal exemptions since the Standard Deduction was increased several years ago. Your tax return is just what it is.

If you want a bigger refund you can have your employer hold out an extra amount. Did it give you the EIC earned income credit? Well at least you have a refund not a tax due. You should try to come out even on your tax return. You don't want to owe and you don't want the IRS to have your money all year without paying you interest. So $16 sounds good.