My refund this year is much,much larger than last year and I don’t know why and its making me nervous to file ???

Forum|Forum|7 years ago
June 6, 2019
1 reply
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TurboTax Deluxe Online

Best answer by RachelW33

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

RachelW33

Answer

Alumni - Expert

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

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