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Level 1

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

Hello,

I am currently 21 years old and single and I will start a new job (my first job). I am on the process of filling a W4 form and I am not sure what should I put as allowances.

About me:

I am claimed as dependent on my parent's tax form and I have 0 dependents. I hear that I am safe to put 1 so I can get paid more but I am not really sure if it will lead to an issue with the IRS. 

What do you think? Should I put 0 or 1?

Note: The state is WA.

1 Best answer

Accepted Solutions
Level 9

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

If you put "0" then more will be withheld from your pay for taxes than if you put "1"--so that is correct. The more "allowances" you claim on your W-4 the more you get in your take-home pay.  Just do not have so little withheld that you owe at tax time.

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

 But are you sure you will be a dependent on your parents' return?  You are 21?  Are you still a full-time student?  If you are a full-time student then your parents can still claim you as a dependent.

6 Replies
Level 9

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

If you put "0" then more will be withheld from your pay for taxes than if you put "1"--so that is correct. The more "allowances" you claim on your W-4 the more you get in your take-home pay.  Just do not have so little withheld that you owe at tax time.

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

 But are you sure you will be a dependent on your parents' return?  You are 21?  Are you still a full-time student?  If you are a full-time student then your parents can still claim you as a dependent.

Level 1

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

Hello,

Thanks for your answer. I just graduated from college so I am not longer a full-time student. In addition, as 2017 tax, I was claimed as dependent and the W4 form I need to fill is from 2017.
Level 9

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

What do you mean you are just now filling out a 2017 W-4?  Why?  If you are starting a job in 2018 you should be filling out a 2018 W-4.  
It should look like this:  <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/fw4.pdf">https://www.irs.gov/pub/irs-pdf/fw4.pdf</a>
If you were a full-time student for the first 5 months of 2018 then your parents will still be able to claim you as a dependent for 2018.
Level 1

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

For some reasons (I asked them why (waiting for response)) they are still using the 2017 version. However, I was a full-time student for the first 5 months of 2018.
Level 9

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

So when you file your own return for 2018, you will say on it that you can be claimed as a dependent on someone else's tax return.
Level 1

Should I 0 or 1 on a Form W4 for Tax Withholding Allowance being a dependent?

So, I should state 0 in this case