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I have questions regarding the information I need to enter into the TurboTax W4 Calculator

Wages received so far in 2018: 
Is that only from my current job or also from a previous job I had earlier in the year?

Federal tax already withheld from your paycheck: 
Is that only from my current job or also from a previous job I had earlier in the year? 

Your total state withholding expected for 2018
How do I figure that out?

What do you plan on contributing for IRA in 2018:
Why is this important? If I say nothing and end up putting money in later, the calculator will just give me a lower number of allowances, which means more money will be taken out of paycheck but I’ll get a bigger refund, right? So the safer bet is just to leave that blank, right?

My wife and I file as married jointly. After I figure out the number of allowances I want to take, should my wife use the same amount of allowances? The calculator only gives me one number at the end.


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2 Replies

I have questions regarding the information I need to enter into the TurboTax W4 Calculator

Wages:  All jobs in 2018

Taxes Withheld:  All jobs in 2018

State Tax expected to be withheld:  Look at last pay stub and see how much was withheld.  If you expect this to be same for rest of year, take that amount times the number of paychecks you have left for the rest of the year.

IRA:  Yes safer to leave blank if unsure you will put money in an IRA. 

When both a working your spouse should use no more exemptions than the other spouse.  If anything one of you should have one less (usually the one that makes the most income). 

I have questions regarding the information I need to enter into the TurboTax W4 Calculator

Thank you so much for the fast answer! I highly appreciate it!
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