If your Refund this year is much larger than last year's Refund, I would suggest comparing this year's return with last year's return line by line to pinpoint any differences. This should definitely give you some insight as to why your refund this year is so much higher. Also, double check your input to make sure everything has been entered correctly in TurboTax.
There are many reasons that your refund could be higher this year compared to last year's. Some of the most common reasons include:
- Your Income Increased or Decreased
- Your Federal and/or State Tax Withholding was higher
- You deferred more income into your Employer-Sponsored Retirement Plan or Flexible Savings Plan
- You qualified for a Tax Credit you didn't receive last year (or the Credit Amount Increased)
- You added a Dependent
- You changed your Filing Status
- If you Itemize, your Itemized Deductions are higher this year
