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I'm a husband with unemployed wife, and 1.5 year old daughter. How many allowances shall I claim on my stipend? and do I qualify for head of household?

 
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4 Replies

I'm a husband with unemployed wife, and 1.5 year old daughter. How many allowances shall I claim on my stipend? and do I qualify for head of household?

You do not want to file as Head of Household.  File a joint return.  That is much better, and if you and your spouse have lived together for the last six months of 2019 you cannot file as HOH.

 

If you were legally married at the end of 2019 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $24,400 (+$1300 for each spouse 65 or older)  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.

 

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return. Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI)

If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice.

 

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

**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.**

I'm a husband with unemployed wife, and 1.5 year old daughter. How many allowances shall I claim on my stipend? and do I qualify for head of household?

"How many allowances should I claim on my stipend?"

 

What stipend?

**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.**

I'm a husband with unemployed wife, and 1.5 year old daughter. How many allowances shall I claim on my stipend? and do I qualify for head of household?

I did not mean stipend. I meant that till last month I used to get my paycheck as single because I did not update my status for long. I have been getting refund every year when I file my taxes though.

 

Just last week I have decided to update my status at my work HR so I do not get a lot of money withheld from my pay check.  I’m just not sure about how many allowances shall I claim?! Since I’m a husband for unemployed wife and a daughter who they live with me.

 

Also what about the head of household?! I just don’t understand this one and if I’m qualified or not?!

 

p.s. I file jointly with my wife.

 

The whole idea of my questions is that I’m trying to get the minimum amount of money to be withheld from my salary. If there is anything needs to be done at my side, I will be grateful to be told. 

 

Thx

I'm a husband with unemployed wife, and 1.5 year old daughter. How many allowances shall I claim on my stipend? and do I qualify for head of household?

Head of Household is a filing status for someone who is unmarried or living as unmarried.  It does not apply to you, and it would NOT be better for you.   You have a higher standard deduction when you file a joint return--that is money that is tax free.  If you file jointly you have $24,400 of tax free income; a HOH would have a standard deduction that is less--$18,350. 

 

So you are asking what to put on your W-4 at work for tax withholding.  Try the IRS W-4 estimator tool.

 

https://www.irs.gov/individuals/tax-withholding-estimator

**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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