If you normally receive a refund, I would highly recommend you compare this year's Tax Return to last year's Tax Return line by line to pinpoint any differences. Doing this may help you find a mistake or help you see exactly what is causing you to owe this year. Also, double check your input to make sure everything has been entered correctly in TurboTax.
There are many reasons that you could owe this year when you have received refunds in past years. Some of the most common reasons include:
- Your Federal and/or State Tax Withholding as a Percentage of Wages decreased
- Your Income Increased or Decreased
- You deferred less income into your Employer-Sponsored Retirement Plan or Flexible Savings Plan
- You have a type of income this year that you did not have in previous years (Capital Gains, Dividends, Interest, 401(k) Distribution, Etc.)
- You qualified for a Tax Credit last year that you didn't qualify for this year
- You deleted a Dependent or your Dependent reached the age of 17 during the year
- You changed your Filing Status
Check out the TurboTax FAQ below for more information regarding a decrease in your refund from prior years:
https://ttlc.intuit.com/replies/3301788
