Regarding Filling out a w2: I am single and live alone with no dependents. What is the difference between claiming 1 (for myself) vs. Claiming 0?

snin798316 · ‎January 10, 2022

JulieS · ‎January 10, 2022

The number of exemptions you claim on Form W4 affects the amount of federal income tax withheld.

The more exemptions you claim, the less federal tax will be withheld and the smaller your income tax refund would be.

The exact amount depends on your average wages and how often you are paid.

You can use the TurboTax W4 Calculator to get a better estimate based on your situation.

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Critter-3 · ‎January 10, 2022

The new W-4 doesn't have allowances any longer ... you need to read the entire form to complete it correctly.

If you are single and have only one job check the SINGLE box and leave the rest of the form blank.

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