topic Re: down not up in Get your taxes done using TurboTax

down not up

laplace127 — Mon, 12 Apr 2021 02:48:22 GMT

I have a small 1099 business ($3K a yr) & had no taxes withheld but it says my refund will be about $500. ( the amount is in green, not red) As I add more business expenses, the refund gets smaller. Is this a glitch? What does it mean?

Re: down not up

Mike9241 — Mon, 12 Apr 2021 16:32:27 GMT

we can't see your return so can't say what is happening. your self-employment tax should go down but perhaps certain credits are going down more. also, your QBI/199A deduction would go down increasing taxes.

Re: down not up

laplace127 — Mon, 12 Apr 2021 17:50:11 GMT

Thanks - that makes sense now that I have gone thru the whole filing process.