I just realized I will not have enough Fed tax liability at the end of this year to claim my $7500 EV tax credit without reducing my fed withholding to about zero the rest of this year on my job withholding. Can I claim 50 dependents (besides my 2 qualifying children under age 17) on my W2 without raising issues? I have a bi weekly deduction of about $870 for fed withholding and only have 6 paychecks left to increase my tax liability (based on my estimates I would only owe $2.5K at the end of the year currently) and need another $5K to claim the full $7500.
Or should I write in the amount for above the $27,700 standard deduction by X $'s to get the extra $5K liability?
The problem is I do not know how much either of these actions reduce the fed withholding each month.
Sorry Meant to say: The problem is I do not know how much either of these actions reduce the fed withholding each month on each bi-weekly paycheck. Any W4 feedback will help. Thank you.
You will need to contact TurboTax Community on the US side for assistance this is the Canadian side.
Thank you for choosing TurboTax.
nermine74
New Member
TFlann7
Level 2
memyangel
New Member
romeopan77
Returning Member
DougFromCalgary
Level 2
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.