I claimed zero exemptions of my W-4. At tax time, can I claim myself for one personal exemption?

Question

I'm 21 and I claimed 0 exemptions on my W-4. I wanted to know if I can claim a personal exemption for myself when I go file my taxes. I heard that if you claim 0 on your W-4 the IRS takes out more for taxes and you get back less. But if you claim 0 on your W-4 and then at the end of the year you claim 1 exemption, you could get a bigger refund. (I can be claimed as a dependent.)

Answer 1

your aloud to claim yourself

Answer 2

When you file your W-4 (not your W-2) you can claim zero exemptions (not dependants). (What you are doing it forefitting the exemption you automatically get for yourself. Every single person gets 1 exemption for themselves.) This means that you will pay more towards taxes throughout the year and potentially get a larger refund of what you overpaid. When you file your taxes at the end of the year, you will not be a dependant. (A dependant means that you provide less than 50% of your own support.) You will simply file your taxes as normal. When you get to the portion that asks how much tax you paid throughout the year, you will take the number off of your W-2, which is a summary of your wages and taxes throughout the year. Because you will have overpaid by a lot by claiming 0 exemptions, you will get a large refund.

Answer 3

Unless you are the dependent of another taxpayer, you always get your personal exemption.

Your W4 only tells your employer how much to withhold from your pay and has NOTHING to do with the exemptions that you are entitled to on your tax return.

Claiming 0 on your W4 will normally result in higher withholdings and a larger refund.

Answer 4

The exemptions on your W-4 have to do with withholding. That number has nothing to do with your actual return. If you are not a dependent on someone elses return (e.g., your parents), you claim yourself. If you are a dependent on your parent's return, you don't claim yourself!