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    ark6335's Avatar
    ark6335 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 21, 2012, 12:33 PM
    OPT student exemptions/allowances
    Hi,
    I am an OPT student working in Minnesota.I am single and no one claim me as a dependent.

    Bi weekly pay-2696$
    Annual pay-70,096$
    Federal state tax-258.44
    State tax-126.84

    My allowances/exemptions
    Federal-2
    State-1

    Are these correct?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Aug 21, 2012, 02:24 PM
    No, that is NOT enough. If you keep the exemptions at TWO, you will owe OVER $4,500. To fix this, submit a NEW W-4 and claim SINGLE status with ZERO allowances to increase your withholding to mitigate what you will owe.

    The state withholding should be fine. You will owe about $580 on your Minnesota return.
    newacct's Avatar
    newacct Posts: 321, Reputation: 21
    Full Member
    		  
    #3

    Aug 21, 2012, 06:54 PM
    Plus if you are a nonresident alien (you didn't say whether you were), then you are only allowed to claim 1 exemption anyway.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Aug 21, 2012, 07:58 PM
    What NewAcct says is true, but that seemed to be "water under the bridge", so I did not bring that up.
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