Message Font: Serif | Sans-Serif
No. of Recommendations: 0
When I fill out my W4 to take into account my new house, do I only multiply the monthly expenses (property tax and interest) by 10 months (April to December) or by the whole year? e.g If I claim 15 or 16 exemptions as calculated on an entire year, will it cause me to owe come tax time? Also, is the state tax that I have deducted out of my biweekly paycheck tax deductible when itemizing? Thanks. (I'm almost finished moving!!) :)

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.