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i made 30,509.72 in 2024 why am i getting back so little

year 2023 i only worked 6 months and got back over 500.00
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2 Replies

i made 30,509.72 in 2024 why am i getting back so little

More income = more tax

 

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

 

 

https://ttlc.intuit.com/community/refunds/help/why-did-my-refund-go-down-compared-to-last-year-s/00/...

 

 

**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.**

i made 30,509.72 in 2024 why am i getting back so little

A refund means you made an interest-free loan to the government. depends on your goals. Some taxpayers prefer to come just about even at tax time. Others prefer a huge refund because they have a special purpose in mind for it such as a vacation or major purchase. If they had the money earlier they would have already spent it. If you desire a bigger refund, file a new w-4 and enter an amount on line c in step 4. 

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