I am single and have 2 mortgages, when I claim 2 on W4 I get about $9000 back for returns. will it even out with 6?

I am single and have 2 mortgages, when I claim 2 on W4 I get about $9000 back for returns. Will it even out with 6? Asked by shdaiken 23 months ago Similar questions: single mortgages claim W4 $9000 back returns Business > Taxes.

Similar questions: single mortgages claim W4 $9000 back returns.

I don't think 6 would be high enough to get rid of the entire 9k return. You'd probably need to go about 8 or 9. And, even if you're married, change the W-4 to single.Be careful going over 9 though - that raises flags at the IRS.

Also, while I am guessing 8 or 9, that may be too high - try it though, just remember to keep a couple thousand aside in case you need to make up a short fall. Also, remember that your interest expense on the mortgages will be decreasing every year as you make payments on them, and you'll need to take that into account. Good luck.

Predator replied to post #1: 2 I think that he means he wants to try to claim 6 deductions for his non-existent dependents, instead of 2. This user has been banned from Askville.

Predator replied to post #1: 2 I think that he means he wants to try to claim 6 deductions for his non-existent dependents, instead of 2.

I think that he means he wants to try to claim 6 deductions for his non-existent dependents, instead of 2.

4 You can claim more than 2. Sometimes it depends on how well your payroll office does at calculating things. Use the worksheet on page 2 of the W-4 form.

Especially with having 2 morgages and all the extra itemized deductions that gives you - which your payroll office knows nothing about when they calculate your withholdings- you should increase the deduction some. Definitely more than 2. My husband changes his withholding twice a year sometimes to try and make sure we get back or own the smallest amount possible.

When he was single and had a mortgage on one house, I think he claimed 4 on his W-4 and got back some but not much. This was using the worksheet to figure it out. If I were you, I'd change the W-4 to "4" and see what happens.To jump all the way to 6 could be a "leap of faith" with your payroll office.

Check it out:irs.gov/pub/irs-pdf/fw4.pdf .

You can claim more than 2. Sometimes it depends on how well your payroll office does at calculating things. Use the worksheet on page 2 of the W-4 form.

Especially with having 2 morgages and all the extra itemized deductions that gives you - which your payroll office knows nothing about when they calculate your withholdings- you should increase the deduction some. Definitely more than 2. My husband changes his withholding twice a year sometimes to try and make sure we get back or own the smallest amount possible.

When he was single and had a mortgage on one house, I think he claimed 4 on his W-4 and got back some but not much. This was using the worksheet to figure it out. If I were you, I'd change the W-4 to "4" and see what happens.To jump all the way to 6 could be a "leap of faith" with your payroll office.

Check it out:irs.gov/pub/irs-pdf/fw4.pdf.

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I'm a single mom and recently moved home and pay rent to my parents. Do they need to claim this on their taxes?

I feild my taxes out on 2/15/11 and I have still not got them back yet.

We live in CA and my 13yo son earned $3850 on his job. He had 3 allowances on w4. He pd $1573.80 in taxes..why so much?

I am a student and will start a summer job for the 1st time this year how many exemptions should I claim on my W4 form.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.