Quick tax question

[Phoenix15]

If me and my wife file married filing jointly, how many exemptions will we have? Two right? One for me and one for her.

Thanks

 

[JulesMaximus]

Originally posted by: Phoenix15
If me and my wife file married filing jointly, how many exemptions will we have? Two right? One for me and one for her.

Thanks

Correct.

Edit-You might not want to claim two for withholding purposes but for filing purposes definitely yes.

 

[Phoenix15]

Spank you, Helpy Helper

 

[frankie38]

You can use turbo tax or another prog to figure out which way to file would work best for your situtation by simply changing the filing options. good luck

 

[EagleKeeper]

If both of you are working, have the one of you claim 1 on the W4 (withholding) and the other claim 2.

Otherwise if only one is working, it will be safe to claim 2.