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How is it that i made more in my 2023 return and got back more but i made less in my 2024 return and i am getting less back?

I made around $28,000 and got around a $1200 return for 2023 but i made around $27,000 and am getting a $754 return for 2024… not adding up…
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2 Replies

How is it that i made more in my 2023 return and got back more but i made less in my 2024 return and i am getting less back?

We cannot see your screen, your return or your account.  Have you entered ALL of your 2024 information?  All your income, etc.?  Many tax documents that you need do not arrive until late January or even February, so maybe you do not have it all there yet.

 

There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc.  You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17?  If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC)  Are you 65 or older ?  If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.

 

And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-refund/refund-go-compared-last-year/...

 

Print out 2023  and 2024  and compare them side by side to see what is different. 

 

https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
SusanY1
Expert Alumni

How is it that i made more in my 2023 return and got back more but i made less in my 2024 return and i am getting less back?

The most likely reason in your situation is that your withholding, or the amount of tax you paid from deductions to your pay check, was lower in 2024 than it was in 2023.  

To check for this compare the total payments on Line 33 in 2023 with the same line in 2024.  This would also include any changes (increases) in refundable credits to which you may be entitled.  

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