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pdelanty
New Member

My income went down by 20K and standard deduction went up. My tax is going up by 4K and my state is going up by 4K. I have always gotten a refund. What has changed?

I have checked with my 1099 provider and the deduction percentages have not changed from previous years.  
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2 Replies
MayaD
Expert Alumni

My income went down by 20K and standard deduction went up. My tax is going up by 4K and my state is going up by 4K. I have always gotten a refund. What has changed?

 

Without being able to see your return, i can't tell why your refund is less this year. 

What type of income did you receive in 2023? is your income reported on a 1099 form? 

 

 Also, there are many other reasons why your refund could be less than what you expected, such as:

 

If your refund seems extremely off, double-check the amounts you have entered. Make sure you have entered taxes withheld from your W-2 and 1099 forms. 

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ee-ea
Level 15

My income went down by 20K and standard deduction went up. My tax is going up by 4K and my state is going up by 4K. I have always gotten a refund. What has changed?

 

A great way to find out what happened is to make a line by line comparison of this return and the prior one(s).

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