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veritas828
New Member

How much withholding do I need to claim to break even on taxes?

 
1 Reply
CalCountry
Level 6

How much withholding do I need to claim to break even on taxes?

Withholding is not something you arbitrarily "claim" when preparing your tax return.  Instead, withholding is what you input to TurboTax that was the amount actually withheld by your employer over the course of the year for which you are filing.  That number comes from your form W-2 that you received.

Regarding determining how much should be withheld by your employer over this current year, there is a handy TurboTax W-4 calculator available at:
   https://turbotax.intuit.com/tax-tools/calculators/w4/

The form W-4 is then given to your employer (not sent to the IRS) so that your employer will begin withholding that you requested.

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