Why is turbotax not giving me my full refund?? w2 sheet shows my withheld amount 6,433.96 every year I received exactly whats withheld. but now turbotax is taking from me

Forum|Forum|4 years ago
January 28, 2022
1 reply
12 views

51,496.10 - income
6,433.96 - withheld

I never missed one day of work.

TurboTax Free Edition Online

Best answer by RaifH

or is there something i'm missing?

Without seeing your entire tax return, it is hard to know exactly what is going on. However, based on this W-2 your total income of $51,496 minus the standard deduction for a single person of $12,550 leaves you with a taxable income of $38,946. According to page 7 of the tax tables, the tax on that is $4,472.

You had $6,434 withheld and owed $4,472. That results in a refund of $1,962.

JulieS

Level 15

Most people do not receive a refund of all the tax that was withheld.

For example, a single person with $51,496.10 - income and $6,433.96 - withheld would get back $3358.

You only get back all of your federal tax withheld when your income is less than the standard deduction and your credits.

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xskodeAuthor

Level 2

so I looked up my tax bracket and all. You're correct- however, turbo tax is still doing something shady. because I am only receiving 1,962 instead. that is alot of money turbo tax is taking from me. I'll show a picture below