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nrod78
New Member

Should I not claim EXEMPT on (current) w4 form if I quit the job and start a new one 2 weeks later?

So I am currently working a part-time, on campus job in which I will make under $400 throughout the entirety of it. For this job, being the first one, I have claimed EXEMPT on the w4 bc I am a dependent, have no prior tax liability, and will only be making less than $400 before I leave the job. However, about 2-3 weeks after I leave that job, I will be starting a new job in which I will NOT CLAIM EXEMPT on the W4 for that particular, 2nd job because the pay is higher. Technically, I will not be working two jobs at the same time, but am still concerned as to whether I should keep my EXEMPT on my w4 for my first job or add an allowance because the second job after will be higher paying. Please help me with this dilemma especially with the new 2018 tax reform I am unsure of what to do and don't want to end up owing the IRS money.

1 Reply
IsabellaG
Expert Alumni

Should I not claim EXEMPT on (current) w4 form if I quit the job and start a new one 2 weeks later?

If you want to be super safe, don't claim exempt on the first job, because you no longer expect no tax liability at all for 2018 because of the new job. That's one of the prerequisites for claiming EXEMPT, that you expect to have no liability for 2018, and you didn't have any liability  for 2017.

It's not vital that you do this, however, because if you really are making only $400 or less at this job the effect on your 2018 taxes will be minimal if not zero. But it's good that you are considering this, because so many taxpayers don't realize that all of your W-2s from all of your jobs get added together at the end of the year to compute your taxable income, and to figure your tax for the year. It doesn't make a difference whether you work the jobs at the same time or sequentially.

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