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rohanez
New Member

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

My exemptions in my Federal and Michigan State are 1. I am married as of 2015, and we recently gave birth to our first child in 2017. To how many exemptions should I change my W4? 

Also, how much Personal exemption and Child Tax credit can I claim? I filed as "Married Filing Jointly". Both me and my wife work full-time. Thanks. 

1 Best answer

Accepted Solutions
xmasbaby0
Level 15

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

W-4's are going to change for 2018 in the next couple of months.

For 2017, if you are fling a joint return you and your spouse each get personal exemptions of $4050, and your child gets a $4050 exemption as well.  The child tax credit for 2017 is $1000.

CHILD TAX CREDIT

The child tax credit can only reduce your tax liability down to zero.  It is not a refund.  If you have no tax due, then you may not receive the full amount of the $1000 Child Tax Credit

If your child turned 17 at any time during 2017, then you will not receive the child tax credit.

If you are claiming the Child Tax Credit for a child who was born in 2017, make sure you said in Personal Info that the child lived with you all year and that you entered the child’s SSN.

**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.**

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6 Replies
xmasbaby0
Level 15

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

W-4's are going to change for 2018 in the next couple of months.

For 2017, if you are fling a joint return you and your spouse each get personal exemptions of $4050, and your child gets a $4050 exemption as well.  The child tax credit for 2017 is $1000.

CHILD TAX CREDIT

The child tax credit can only reduce your tax liability down to zero.  It is not a refund.  If you have no tax due, then you may not receive the full amount of the $1000 Child Tax Credit

If your child turned 17 at any time during 2017, then you will not receive the child tax credit.

If you are claiming the Child Tax Credit for a child who was born in 2017, make sure you said in Personal Info that the child lived with you all year and that you entered the child’s SSN.

**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.**
SweetieJean
Level 15

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

rohanez
New Member

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

Thanks for the quick response. Should I wait a few months to update my W4 with my employer? Or for now, do you recommend I change my exemptions to 2 or 3?
xmasbaby0
Level 15

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

I would leave it as is for the time being until the new W-4's come out and we see what they are like.  There will not be personal exemptions any more.
**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.**
rohanez
New Member

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

Thanks, xmasbaby0. That helps.
xmasbaby0
Level 15

How many exemptions should I put down on my W4. I am married and have one child. I currently have 1 exemption.

You are welcome. And congrats on the new baby!
**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.**
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