topic My income of 10,533.12 gave me a refund of 1697.00. my income of 58,153.25 gave me a refund of 1541.00 but when i put the two incomes together im only getting a 414.00? in After you file

My income of 10,533.12 gave me a refund of 1697.00. my income of 58,153.25 gave me a refund of 1541.00 but when i put the two incomes together im only getting a 414.00?

bigbelly- — Wed, 11 Feb 2026 04:23:41 GMT

Re: My income of 10,533.12 gave me a refund of 1697.00. my income of 58,153.25 gave me a refund of 1541.00 but when i put the two incomes together im only getting a 414.00?

xmasbaby0 — Mon, 05 Feb 2024 23:01:09 GMT

WHY DID MY REFUND GO DOWN WHEN I ADDED ANOTHER W-2?

You started off with your first W-2 and your refund looked high? Then you added another W-2 and it stopped looking so good? That is normal. When you added more income, your tax liability increased, so you saw your refund decrease. The program began by giving you your standard deduction—- which lowered your taxable income. (if you are filing joint it took $27,700 off your income right off the bat) So you are not being taxed on as much of the income on that first W-2. Then you added taxable income--so the refund went down.

Your refund (or tax due) is based on the total of your income and withholdings, not “per W-2.”

And…adding income may affect other credits you were getting like the earned income credit.

Wait until you have entered ALL of your income and credit/deduction information. You can't really tell anything until it is all entered. That “refund monitor” does not mean anything until everything has been entered.

https://ttlc.intuit.com/questions/2273878-why-did-my-refund-drop-when-i-entered-another-w-2

Re: My income of 10,533.12 gave me a refund of 1697.00. my income of 58,153.25 gave me a refund of 1541.00 but when i put the two incomes together im only getting a 414.00?

VolvoGirl — Mon, 05 Feb 2024 23:01:28 GMT

Because we have a progressive tax system. The more total income you make you pay a higher percent for tax.

You only get one refund or tax due for all your income combined. The Refund Monitors won't be right until you have entered all your income. So don't look at it until you are done.

That's common. It just looks that way because you put them in as separate W2s and saw the tax due change in between them. If it all was on one W2 you would get the same answer. And each job was withholding like it was your only job.

Because you only get one standard deduction no matter how many W2s you put in. Turbo Tax starts out by giving you the Standard Deduction. You entered more income when you entered the second W2 but you didn't enter more deductions. And each job only withheld taxes like it was your only job for the year. You might want to adjust your withholding. Also as you add more income you might not be getting as many credits as before like the EIC credit. And it was probably giving you the EIC credit until you went over.

See, https://ttlc.intuit.com/community/refunds/help/why-did-my-refund-drop-when-i-entered-a-second-w-2/00/26275

Re: My income of 10,533.12 gave me a refund of 1697.00. my income of 58,153.25 gave me a refund of 1541.00 but when i put the two incomes together im only getting a 414.00?

DoninGA — Mon, 05 Feb 2024 23:01:58 GMT

See this TurboTax support FAQ for the reasons why - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-drop-entered-second-w-2/L4wmMMBCs_US_en_US?uid=ls9jdl4o