You'll need to sign in or create an account to connect with an expert.
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. 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, not “per W-2.” Wait until you have entered ALL of your income and 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-28
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. 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, not “per W-2.” Wait until you have entered ALL of your income and 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-28
Every W-2 that you received must be reported on your tax return, even if they are for small amounts. Remember that each one of those W-2’s has your Social Security number on it, and that income was reported to the IRS by the employer. You do not want to get in trouble with the IRS for under-reporting your income.
ALL of your W-2’s must be entered on the SAME tax return. After you enter the first one, you click Add Another W-2.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Isweatwheniswim
New Member
margmimishpeterson
New Member
TaxInTaxOut
New Member
morinjuncker365
New Member
Opus 17
Level 15
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.