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Get your taxes done using TurboTax
That’s common. When you add more income it usually reduces your refund. So you have to pay some of it back now. You would have gotten a smaller refund on your initial return if you had entered both W2s.
Here’s a longer explanation. Because you only get one standard deduction no matter how many W2s you put in. Turbo Tax starts out by giving you the Standard Deduction. You entered more income when you entered the second W2 but you didn't enter more deductions. And each job only withheld taxes like it was your only job for the year. You might want to adjust your withholding. Also as you add more income you might not be getting as many credits as before like the EIC credit. And it was probably giving you the EIC credit until you went over.
See, https://ttlc.intuit.com/questions/2273878-why-did-my-refund-drop-when-i-entered-another-w-2
Here’s a longer explanation. Because you only get one standard deduction no matter how many W2s you put in. Turbo Tax starts out by giving you the Standard Deduction. You entered more income when you entered the second W2 but you didn't enter more deductions. And each job only withheld taxes like it was your only job for the year. You might want to adjust your withholding. Also as you add more income you might not be getting as many credits as before like the EIC credit. And it was probably giving you the EIC credit until you went over.
See, https://ttlc.intuit.com/questions/2273878-why-did-my-refund-drop-when-i-entered-another-w-2
June 7, 2019
5:04 PM