Tax withholding

Forum|Forum|4 years ago
July 27, 2022
6 replies
36 views

My husband works full time and has an annuity income. I work part time and have an annuity income. We have two teenagers and investment income. How do we fill out our W-4’s to have the most amount of tax taken out? We always seem to have to pay the IRS at tax time.

Critter-3

Level 15

Have all W-4 and W-4P forms set to SINGLE as the filing status and leave the rest of the form blank.

If that is not enough simply figure out how much more is needed and divide that by the number of payments you get on one of those things then add that amount to line 4C of one of those W-4 forms.

OpeA1

Level 6

Hello DDABM!

You will fill out your W-4 by taking care to fill out the following:

Step 1 must have the correct tax filing status MFJ, in your case
Step 2 should indicate the household has multiple incomes, by checking to box in (c)
Step 3 should have the dependents accounted for in the first line
Step 4 is optional, but (c) is useful if you feel you should have extra withholdings withheld each pay period.

Here is a link to our free estimator to better assist you in calculating how much you may owe in your specific situation: https://turbotax.intuit.com/tax-tools/calculators/w4/

I hope this helps.

Thank you for using TurboTax Live!

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DDABMAuthor

Level 2

So would I fill out all W-4’s the same way? I feel like we tried that last year and my husbands job had NO tax taken out.

kdevere

Level 5

Each W-2 should indicate the correct filing status, in your case MFJ, then to ensure the maximum with holding use zero for Step 3 under dependents. If you feel like you didn't have enough with held last year, make sure no one is checking the box in Step 2 (c), checking that box will result in less with holding.

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