Jack Young said:The FBI advisor didn't have a clue about the child multipliers 👎
A kid counts for the tax break as a child until they land their first full-time job
After that, they're just a dependent (0.70)
Good luck to me,🤦I listed my first and second child as deductions—specifically 0.70 and 1.00.
I have two adult children: one is a college student, and the other is unemployed—well, they work for our family business, but isn't officially on the payroll.
As of this year, they are both listed on my tax withholding. So, what am I supposed to do now? Since I calculated my January salary using the 0.7 and 1.00 coefficients?
Do I need to file a corrected W-2?
What should the coefficient actually be for two adult children who have already been employed? 1.40?