This year it's saying I owe $1 in federal taxes. I didn't change anything on my W-4 and the only thing that changed as far as income is I got a slight raise (1$) per hour in wage. Last year I was refunded $1300. I was expecting at least that much for a refund and certainly wasn't expecting to owe $1. How is this possible?
You'll need to sign in or create an account to connect with an expert.
More income = more tax. Sounds like you made more money but did not have more tax withheld from your pay.
https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN
I am not sure why your tax refund is less this year, but you can look on your tax return form 1040 and compare it with last year's to see what changed.
You can view your form 1040 while working in the online version of TurboTax by following these steps:
While working on your return in the Federal section of TurboTax:
1. Choose the Tax Tools icon on your left menu bar
2. Tools
3. View Tax Summary
4. Choose the Preview my 1040 on your left menu bar
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
lind7262
Returning Member
alitalharslan5
Returning Member
mkhaderva
New Member
m-rygala1
New Member
austuche2000
New Member