2

I currently just graduated and received a job! Wahoo! My Dad told me he is still going to claim me though, for this year anyways. First question is: What does that really mean? Also, should I claim a 1 or a 2. I would like the most money I could get right away without having to pay in. Does him claiming me make me get less money back? I am only 21 years old and went to school for the first semester of the year.

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    Location? The USA? – Beanluc Jun 7 '18 at 21:25
  • @Beanluc USA is my country – MountaindewKing Jul 6 '18 at 14:48
2

Assuming you're in the USA, here goes:

In 2018, this is a very different boat than in 2017 and before. Before, there was a personal exemption of $4000 that you didn't get if someone else claimed you, and instead they got you.

But in 2018, that doesn't exist - so your dad is wrong. He won't claim you, because there's no exemption to claim. (See for example this article.)

Ultimately, you are best served filling out the W4 according to the instructions for your first year. Then figure out at tax time next year if you're over-withholding or under, and adjust accordingly.

My guess is you'll enter a '2', if you're single and have one job and no kids.

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    N.b.: Odds are your dad couldn't have claimed you, anyway; the cap for your earnings was $4000. If you're earning over $4000, you aren't eligible to be claimed. Further, if you are over 19 and no longer a student, you're not eligible to be claimed, though if you were a student part of the year, maybe. But I'd hope you're making over $4000 in the second half of the year... – Joe Jun 7 '18 at 21:45
  • It might also affect the Earned Income Tax Credit. – Acccumulation Jul 6 '18 at 17:15

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