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I have 15k in deductions but u say I'm only getting half that I want to know why!

Why is my refund less than last year if I have more deductions
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I have 15k in deductions but u say I'm only getting half that I want to know why!

Only you can answer that since we cannot see your tax returns, by comparing last years tax return with this years line-for-line to see what is different.

Some deductions are limited, so even if you have a lot of deductions they might not exceed the standard deduction.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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5 Replies

I have 15k in deductions but u say I'm only getting half that I want to know why!

Only you can answer that since we cannot see your tax returns, by comparing last years tax return with this years line-for-line to see what is different.

Some deductions are limited, so even if you have a lot of deductions they might not exceed the standard deduction.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

I have 15k in deductions but u say I'm only getting half that I want to know why!

The only difference is that I bought a house

I have 15k in deductions but u say I'm only getting half that I want to know why!

You don't get deductions back.  They only reduce your income so you get taxed on a lower amount.  And if you reduce your income to zero you don't get back any more.

I have 15k in deductions but u say I'm only getting half that I want to know why!

Well that doesn't make much sense that I buy a house and my refund gets lowered by 3k from last year

I have 15k in deductions but u say I'm only getting half that I want to know why!

Like I say, compare the two years. The reason for the difference should be apparent.   Higher income, different withholding, etc.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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