An increase in your 2016 income may have reduced – even eliminated – some deductions and credits you got on your 2015 return, not to mention putting you in a higher tax bracket.
Strangely enough, an income decrease can sometimes reduce your refund. One example is losing the Earned Income Credit (EIC) because you didn't have any earned income this year, which you need to qualify for the EIC.
Without examining your return, it's impossible to say exactly what caused your refund to decrease. However, there's a high probability that at least one reason is listed below.
If your refund is wildly off, it's possible you simply mistyped a dollar amount somewhere. An extra digit here, a missing number there, even something as seemingly insignificant as a misplaced decimal point can have an eye-popping effect on your TurboTax refund.
To see more related links, please visit:
https://ttlc.intuit.com/questions/3573752-why-do-i-owe-money?jump_to=answer_5745749 [This question was edited on 03/06/2017 @ 10:12p/est]