Hey TurboTax community,
I recently used TurboTax to pay my taxes, and I feel like I grossly overpaid. I want advice on how to get that money back - can anyone help?
I am a graduate student on an NIH F31 fellowship stipend, with a gross income of $30,223 for 2019. Frustratingly, schools don't take out taxes on those for you, and they don't give you a W2, so I have to pay estimated taxes throughout the year. I did so over the course of 2019, paying $1,704 to the IRS in estimated taxes. This amount was based on my 2018 Tax return, where I'd had the same situation and made the same amount of money ($30,859), and so the Total Tax that I paid for 2018 was $1,971.
I recently filed for 2019 using TurboTax, putting my income of $30,223 in the Other Income category. But this year TurboTax calculated that I owed a Total Tax of $4,278. So with the underpayment penalty, I still owed $2,588. I paid it, but I keep thinking about it and that I grossly overpaid my taxes. Why should my taxes have increased from $1,971 to $4,278? What did I or TurboTax do wrong here?
Can someone either help me out with the math of it, or can you suggest how I can get my money back?
Thanks!!
