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how many allowances should I claim on my W4 given the scenario: married, 2 kids, only I am working, have two paychecks totally $80k yearly. Pay $2800 per month in mortgage interest.

Submitted: 662 days and 8 hours ago.
Category: Tax
Value: $30
Status: AWAITING EXPERT REPLY
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San Diego, California

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internet

Posted by RD 662 days and 8 hours ago.

Info Request

Is $2800 in mortgage interest or part of it is applied towards principal? how much is property taxes?

How old are the kids?

662 days and 8 hours ago.

Reply

Reply to RD's Post: actual payment is $2974, so I calculated 3% toward principal with the rest to interest.

the kids are 11 and 14

Property taxes are 1.06%

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