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calikaedo
New Member

Claimed 0 on my 2016 return, owed money? Should I claim 1 on this years to avoid owing money next year?

 
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Accepted Solutions
KrisD
Intuit Alumni

Claimed 0 on my 2016 return, owed money? Should I claim 1 on this years to avoid owing money next year?

If you mean exemptions on your W-4, that would have the opposite effect.

Claiming 0 is as low as you can go.

If you claim 0 exceptions on your w4 and you still owe tax, you can have an additional amount withheld, or make "Estimated Tax Payments": quarterly.

If you mean claiming your exception on your tax return, claiming 1 exemption (your own) instead of 0 would normally result in a lower tax liability, but it all depends on whether you are a dependent to someone else or not.

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1 Reply
KrisD
Intuit Alumni

Claimed 0 on my 2016 return, owed money? Should I claim 1 on this years to avoid owing money next year?

If you mean exemptions on your W-4, that would have the opposite effect.

Claiming 0 is as low as you can go.

If you claim 0 exceptions on your w4 and you still owe tax, you can have an additional amount withheld, or make "Estimated Tax Payments": quarterly.

If you mean claiming your exception on your tax return, claiming 1 exemption (your own) instead of 0 would normally result in a lower tax liability, but it all depends on whether you are a dependent to someone else or not.

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