Married, filing jointly. Taxable income increased by $11,000 to $173198 over 2018. Tax increased by $11,000?? Huh?

mrhorner — Fri, 16 Oct 2020 03:11:07 GMT

Re: Married, filing jointly. Taxable income increased by $11,000 to $173198 over 2018. Tax increased by $11,000?? Huh?

Anonymous — Fri, 16 Oct 2020 06:22:40 GMT

we can't see your 2018 or 2019 return so have no way of knowing whether the $11K increase is correct or due to an entry error you made. all you can do is print out the two years and compare line by line.

Re: Married, filing jointly. Taxable income increased by $11,000 to $173198 over 2018. Tax increased by $11,000?? Huh?

xmasbaby0 — Fri, 16 Oct 2020 06:26:09 GMT

No one in this user forum can see your tax return or your screen. There were major tax law changes that began with the 2018 tax year that seem to continue to surprise some people. Personal exemptions of over $4000 per person were removed beginning with 2018 returns.

One thing that may be affecting your refund is that employers began withholding less tax when the new tax law passed. Your paychecks were more, but that means a smaller refund now.

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/questions/1901008-why-did-my-refund-go-down-compared-to-last-year-s

Print out 2018 and 2019 and compare them side by side to see what is different. It is tricky because the line numbers and schedules changed from 2018 to 2019.

https://www.postbulletin.com/news/business/tax-preparers-warn-your-refund-may-be-smaller-than-usual/article_2019b754-4d83-503e-ac96-17e0ffcde602.html

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Married, filing jointly. Taxable income increased by $11,000 to $173198 over 2018. Tax increased by $11,000?? Huh?

Re: Married, filing jointly. Taxable income increased by $11,000 to $173198 over 2018. Tax increased by $11,000?? Huh?

Re: Married, filing jointly. Taxable income increased by $11,000 to $173198 over 2018. Tax increased by $11,000?? Huh?