If I claim 0 on my w-4 (i'm married with kids) but my husband claims me on his w-2 is this an exemption?
2007-08-30 07:30:20 · 2 answers · asked by Boogz99 2 in Business & Finance ➔ Taxes ➔ United States
Your question is very confusing or confused. Your husband doesn't claim anything on this W-2 - that just shows, at the end of the year, his total income and deductions. If you mean he claims you on his W-4, that's OK as long as between the two of you, you don't claim more allowances than you are entitled to.
An exemption comes when you are actually filling out your tax return. You will get at least two total on a joint return, one each for you and your husband. If your kids can be claimed as dependents, then you'll get one more exemption for each of them.
2007-08-30 12:48:44 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
I think you mean on his w-4 form (not w-2 form). I'm no tax expert, but I believe they are called allowances on the w4 form and they determine how much tax is taken out of each paycheck. The exemptions are determined on your actual tax form (i.e. 1040) that you fill out at tax time. The more allowances you put on your w4, the less taxes are taken out of each paycheck.
2007-08-30 15:08:46 · answer #2 · answered by gingliz 1 · 0⤊ 0⤋