When you enter your first W-2, the standard or itemized deductions are subtracted from the income before the amount of tax due is calculated so only a portion or maybe none of the income is being taxed and it appears like you are getting most or all of tax withheld as a refund. When you enter the next W-2, most or all of it is being taxed since there are no more deductions left to subtract. There is not enough tax withheld on that income to pay taxes on all of it so the refund goes down.
The refund shown after entering the first one has no meaning and should be ignored. If all of your income and withholding from both jobs was reported on one W-2 the result would be the same but you would not see an interim refund amount that has no meaning.
When you enter your first W-2, the standard or itemized deductions are subtracted from the income before the amount of tax due is calculated so only a portion or maybe none of the income is being taxed and it appears like you are getting most or all of tax withheld as a refund. When you enter the next W-2, most or all of it is being taxed since there are no more deductions left to subtract. There is not enough tax withheld on that income to pay taxes on all of it so the refund goes down.
The refund shown after entering the first one has no meaning and should be ignored. If all of your income and withholding from both jobs was reported on one W-2 the result would be the same but you would not see an interim refund amount that has no meaning.