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should i claim 2 on my W-4 if Im single, make 51,000, and

 
 
 

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should i claim 2 on my W-4 if I'm single, make 51,000, and have a mortgage of 1900 a month?

Submitted: 1304 days and 9 hours ago.
Category: Tax
Status: CLOSED
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Posted by Ed Johnson 1304 days and 8 hours ago.

Expert's Answer

Dear vazaquez,

 

I agree that you should use 3 as your exemption level on your W-4, based on the information you provided. BUT , only if your mortgage interest and taxes exceed 3500 per year.

 

I assumed that your mortgage interest, any PMI INsurance and property taxes would equal at least 3500 in making my estimate.

 

If that is the case, then you would benefit from taking 3 instead of 2.

 

 

 
 
 
 
 
 

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