turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

daveyboy1
Returning Member

fed tax calculation

My total income this year compared to the previous year is %50 less, yet Turbotax is telling me I owe about %23 more than last year.  This doesn't make sense.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

fed tax calculation

Your deductions and credits, such as EIC, may be different.  And your withholding may be different.  Did you receive unemployment comp, but not have taxes withheld from it?  And U/E Comp doesn't qualify for the EIC. 

 

Look at your 2019 and 2020 returns side by side. Something may stand out.

daveyboy1
Returning Member

fed tax calculation

unfortunately, total income is $90k lower, fed deductions we found for you is $6k higher, taxable income is $100k lower, fed taxes you owe is $6k higher..

 

I think turbo tax has an error in their program.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question