We can't see your tax return to make specific recommendations, but this is how income taxes work.
TurboTax refund is based on several things. The three primary ones are:
- Total Income
- You are taxed on total income, not on each individual income source.
- Did you have multiple W-2's
- Do you have any self-employment income
- The combined income will be taxed higher than any individual source.
- The US has a progressive tax system. The more you earn, the higher the percentage.
- If you have multiple incomes they will all be added together to put you in a higher tax bracket
- Be sure to confirm that you have accounted for every income source.
- Withholdings
- Each wage source may have their own withholding,
- If you didn’t tell your employer (on a W-4 Form), that you had other income, you may not have had sufficient withholdings.
- Be sure that all withholding amounts have been properly accounted for.
- Deductions and Credits
- If you Itemized, did you take the same deductions.
- For single taxpayers and married individuals filing separately, the standard deduction is $13,850 in 2023.
- For married couples filing jointly is $27,700, and
- For heads of households, the standard deduction is $20,800.
- For 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:
- $1,850 for Single or Head of Household (increase of $100) $1,500 for married taxpayers or Qualifying Surviving Spouse (increase of $100)
- If you don't itemize, you will get a standard deduction, and all if the expenses you have won't have any effect.
- There are several Credits that have changed , did you have any of those credits.
You can view your tax return by following these steps. It would be best if you have a copy of last years tax return.
To view your 1040 form on a Mobile device.
- Select Tools.
- Next, select View Tax Summary in the pop-up, then.
- Preview my 1040
If I've misunderstood your question, and this does not completely answer it, please contact us again and provide some additional details.
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