topic How come my federal return is much less than last year when i made more money in Get your taxes done using TurboTax

How come my federal return is much less than last year when i made more money

joymelendez1 — Wed, 28 Jan 2026 06:26:17 GMT

Re: How come my federal return is much less than last year when i made more money

BrittanyS — Wed, 29 Jan 2025 03:20:40 GMT

There are a number of reasons why your refund amount may change from one year to the next. Some of the most common reasons are because you earned more income this year, you did not withhold enough taxes from your pay or you did not make enough estimated tax payments, or your deductions and credits were reduced this year.

For more information, please review, "Why did my refund go down compared to last year's?"

Re: How come my federal return is much less than last year when i made more money

xmasbaby0 — Wed, 29 Jan 2025 03:26:52 GMT

We cannot see your screen, your return or your account. Have you entered ALL of your 2024 information? All your income, etc.? Many tax documents that you need do not arrive until late January or even February, so maybe you do not have it all there yet.

There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc. You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17? If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC) Are you 65 or older ? If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.

And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/L97JmhUbi_US_en_US?uid=ld9ijm41

Print out 2023 and 2024 and compare them side by side to see what is different.

https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

Re: How come my federal return is much less than last year when i made more money

VolvoGirl — Wed, 29 Jan 2025 03:26:54 GMT

Usually more income = more tax = less refund. Your withholding didn't increase enough to cover the tax on your income. Or some credits you got are reduced because you made more income.