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New Member

I filled two W-2 forms in july and i only see refund for 2nd W-2 form and not the 1st W-2 form. Why

 
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Level 15

I filled two W-2 forms in july and i only see refund for 2nd W-2 form and not the 1st W-2 form. Why

Did you enter them both into your tax return?  You have to file all your income on the same return.  There is only one refund or  tax due for all your income income combined.

 

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

 

 

 

 

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Level 15

I filled two W-2 forms in july and i only see refund for 2nd W-2 form and not the 1st W-2 form. Why

A W-2 form is a report from your employer to you and the IRS of your income.

 

A tax return is a form 1040+ attachments. You file one tax return that reports all your income and deductions for the entire year.

 

If you filed a tax return listing only some of your income, you must go back and amend that tax return to list all your income.  That means going back into your online account, clicking amend under the list of things you can do, adding your other income, and then mailing the amended return along with a check for any extra tax you owe to the IRS. You must also amend any state tax returns.

With TurboTax online, each account can only file one tax return.  If you tried to “file“ your second tax return by changing the numbers in your original account, then you will have a problem amending, Because your original account no longer matches what you actually filed and can’t be used as a base account for making the amended return. First, you have to put all the numbers in your account back to the way they were when you filed your first tax return, then, start the amend process and add any income that you left off the first time.

*Answers are correct to the best of my ability but do not constitute legal or tax advice.*
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