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I claimed 1 Allowance on my w4 last year, yet turbo tax does not ask how many I claimed when computing my taxes. Is this not needed when doing my taxes?
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I claimed 1 Allowance on my w4 last year, yet turbo tax does not ask how many I claimed when computing my taxes. Is this not needed when doing my taxes?
There is no direct relationship between the allowances you claim with your employer and your tax return. The allowances only determine how much tax is withheld from your pay. They are not used to determine how much tax you owe.
It is the amount of tax actually withheld compared to the amount of tax owed when everything is entered on your tax return that determines whether you will get a refund or must pay when you file your return.
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I claimed 1 Allowance on my w4 last year, yet turbo tax does not ask how many I claimed when computing my taxes. Is this not needed when doing my taxes?
There is no direct relationship between the allowances you claim with your employer and your tax return. The allowances only determine how much tax is withheld from your pay. They are not used to determine how much tax you owe.
It is the amount of tax actually withheld compared to the amount of tax owed when everything is entered on your tax return that determines whether you will get a refund or must pay when you file your return.
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