Just finished filling out my w4 sheet, and there is one little things that i had no idea what to put?.........

Question

ok so i think it was the 7th thing on my w4 and there is thing "allownace tax withholding" and they said that if you want more money in the end of the year, put zero or 1, so i put 0

btw, im a student, with no dependent, and this is my first job (if that matters)

could anyone explain what that is?

thanks a bunch!!!

Answer 1

keep filing single and zero.

at the end of the year you will get back more and since you are a student your tax allowance will get you even more

Answer 2

Basically if you had a significant source of income that did not have any withholding, and claiming 0 on line 5 would not withhold enough, you can enter a dollar amount on line 6 to have an additional amount withheld "per paycheck".  But unless are making a lot of investment income or something, 0 is fine for line 6.

Technically you could claim 2 allowances (one for A and one for B).  But it may be best to just claim 1 on line 5, so you would not owe if you change jobs later in the year.

Answer 3

There isn't anything on the form with that name.  Check it again, and post again and somebody will answer you.

If you put zero allowances on your W-4 on line 5, the line where you put total allowances, that's correct.