topic After entering my student loan deductions, turbo tax said my deduction was $1714, but my refund only went up like $400...I am confused in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/after-entering-my-student-loan-deductions-turbo-tax-said-my-deduction-was-1714-but-my-refund-only/01/110099#M46455 Sat, 01 Jun 2019 04:59:55 GMT justine-allen 2019-06-01T04:59:55Z After entering my student loan deductions, turbo tax said my deduction was $1714, but my refund only went up like $400...I am confused https://ttlc.intuit.com/community/taxes/discussion/after-entering-my-student-loan-deductions-turbo-tax-said-my-deduction-was-1714-but-my-refund-only/01/110099#M46455 Sat, 01 Jun 2019 04:59:55 GMT https://ttlc.intuit.com/community/taxes/discussion/after-entering-my-student-loan-deductions-turbo-tax-said-my-deduction-was-1714-but-my-refund-only/01/110099#M46455 justine-allen 2019-06-01T04:59:55Z A deduction is an amount that is subtracted from your tax... https://ttlc.intuit.com/community/taxes/discussion/a-deduction-is-an-amount-that-is-subtracted-from-your-tax/01/110105#M46457 <P>A deduction is an amount that is subtracted from your taxable income, so that you owe less in tax. &nbsp;You don't get deductions back in cash. &nbsp;You only receive the amount of tax &nbsp;you would have paid on that &nbsp;amount of income. &nbsp;So, for example, if you have a 25% tax rate and you have a deduction of $1,000, you would get back only $250 from that deduction.</P> Sat, 01 Jun 2019 04:59:57 GMT https://ttlc.intuit.com/community/taxes/discussion/a-deduction-is-an-amount-that-is-subtracted-from-your-tax/01/110105#M46457 Anita01 2019-06-01T04:59:57Z