It depends.
It could be because you made more income this year as you asked.
Or it is possible that you had more withheld in income tax payments on your earnings last year than this year which resulted in owing taxes this year.
Also, there are many factors that go into determining your overall tax balance, such as other sources of income or credits you could be entitled to.
It essentially depends upon your overall tax return from 2019 to 2020. Any changes from year to year will impact your overall refund or tax liability when you file.
In TurboTax, you can view your tax summary for your 2020 tax return by doing the following:
- Go into the black panel on the left and select Tax Tools.
- Then select Tools beneath Tax Tools.
- A "Tools Center" box will pop up, select "View Tax Summary"
- You will see a screen that gives a snapshot of your taxes based upon your input so far.
- Click on the black panel on the left bar and select Preview my 1040
- This will allow you to review your overall line items on your federal tax return. Compare these amounts to your actual tax return for 2019 to help you determine why there is such a large difference from year to year.
After you review the above items, simply select "Back" in the black panel to get back to the interview forms.
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