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Returning Member
posted May 23, 2024 11:03:25 AM

I'm confused with this new w4 form I want to lower my dependents from 7 to 3 How would I do this?

Appreciate the help....

0 6 6353
6 Replies
Level 15
May 23, 2024 11:11:46 AM

Personal exemptions are no longer used when completing a W-4.

Go to this IRS website for the tax withholding estimator (W-4) -https://www.irs.gov/individuals/tax-withholding-estimator

Returning Member
May 23, 2024 11:19:10 AM

What line would put that in on the form?

Level 15
May 23, 2024 11:24:44 AM

All you need to do is follow the procedure in the estimator for the W-4.  In Step 3 you enter the credits you are eligible to receive.  The number of dependents is no longer relevant on a W-4

 

Also, see this IRS website for withholding estimator FAQ's - https://www.irs.gov/individuals/tax-withholding-estimator-faqs

Returning Member
May 23, 2024 11:47:38 AM

I'm sorry with all these questions 

On section 3 I would put $1500 because I claim 3?.. 

Level 15
May 23, 2024 12:28:49 PM


@fastrek82 wrote:

I'm sorry with all these questions 

On section 3 I would put $1500 because I claim 3?.. 


If you have three dependents being claimed on your federal tax return and they are all age 17 or older, the Other Dependent credit of $500 would be available for each of the dependents, total $1,500.

Returning Member
May 23, 2024 12:47:42 PM

Thank you!