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Returning Member
posted Jul 27, 2022 9:01:34 AM

Question about Tax deductions

Hello so I would like to make sure my W-4 form is filled out correctly and that I am actually getting deducted for federal taxes

0 2 734
2 Replies
Expert Alumni
Jul 27, 2022 9:08:21 AM

Hi Mwashy0109,

The most accurate method is to use:

IRS Tax Withholding Estimator

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

Use this tool to:

  • Estimate your federal income tax withholding
  • See how your refund, take-home pay or tax due are affected by withholding amount
  • Choose an estimated withholding amount that works for you

Results are as accurate as the information you enter.

What you need:

  • Paystubs for all jobs (spouse too)
  • Other income info (side jobs, self-employment, investments, etc.)
  • Most recent tax return.

TurboTax W-4 Calculator 2022

https://turbotax.intuit.com/tax-tools/calculators/w4/

 

Hope the above helps.

Expert Alumni
Jul 27, 2022 9:09:12 AM

Hello Mwashy0109 !

 

  • Be sure to fill out Step 1 accurately with you filing status.
  • Step 2 is important if you have more than one job.
  • Step 3 allow you to claim dependents, if any and 
  • Step 4 is optional.
  • Here is a tax estimator for your use : https://turbotax.intuit.com/tax-tools/calculators/w4/

Thank you for using Turbo Tax Live!