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I've been filing my taxes with TurboTax for 7 years with no issue. Last year was the first year I didn't get anything + I owed! This year, my return is super low. Why?

I even paid for the deluxe edition because "it will increase my return." But my refund went from $1040 all the way to $271!
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2 Replies

I've been filing my taxes with TurboTax for 7 years with no issue. Last year was the first year I didn't get anything + I owed! This year, my return is super low. Why?

See this TurboTax support article.

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

 

There are too many variables such as the type of income, your  filing status, credits, withholding etc., to answer your question. 

 I suggest you lay last year's return next to this year's and do a line by line comparison to see what's changed. Otherwise you haven't provided enough info for anyone to answer your question. 

PattiF
Expert Alumni

I've been filing my taxes with TurboTax for 7 years with no issue. Last year was the first year I didn't get anything + I owed! This year, my return is super low. Why?

There are several reasons why your refund may have decreased. These include the fact that there are no more stimulus payments, and the additional child tax credit is no longer available. 

 

Please see this TurboTax Help article for more information about why your refund is smaller.

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