<prompt> Human: Hi, so Im still trying to figure out the whole 0 vs 1 thing on w4 forms. After reading a couple articles online it seems like Id have more on my paychecks if I put myself as 1. I ended up doing that so I could have more to pay off my student loans. What Im wondering now is if that will affect my parents putting me down as dependent or not? Im 23 still taking some classes, living with them still.  <response>: Nope. It only affects how much is withheld from your paycheck. With your parents claiming you as a dependent, you will owe a lot more in taxes than if they didnt. Therefore, you may owe taxes at the end of the year since you put a 1 instead of 0. 