turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Richie2you
Returning Member

Allowances help

Hello,
I am trying to figure out how many allowances to enter on the W4 when I start my new job in a few weeks. A number of facts are making this difficult:
1) I Got married in ‘19 and we will file jointly
2) I had business income from 1/1-7/31 + paying estimated taxes qrtly
3) Wife is employed FT and has always had 0 allowances
4) When I was employed and single I had 2 allowances max
5) We have a child and will claim dependent care credit + child tax credit

As I mentioned the most allowances I ever had was 2. However I tried using the IRS withholding calculator and it suggested 12 for me on my new job and 14 for her. Not sure where I went wrong but could use some help! Let me know if you need specific income amounts.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Allowances help

https://www.irs.gov/newsroom/irs-withholding-calculator-can-help-workers-have-right-amount-of-tax-wi...

**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.**
Richie2you
Returning Member

Allowances help

Thanks for the response. I tried this IRS calculator and it suggested 12 allowances for me and 14 for my wife, which sounded way off. I believe I may have done something wrong but given the facts in my original question does 12 and 14 sound way out of line?
Richie2you
Returning Member

Allowances help

Does anyone else have any advice on my question? I appreciate your time.

Allowances help


@Richie2you wrote:
Does anyone else have any advice on my question? I appreciate your time.

You could try the TurboTax calculator.

 

See https://turbotax.intuit.com/tax-tools/calculators/w4

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies