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mmk4life1
New Member

How do you find out why you owe

 
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1 Reply
MayaD
Expert Alumni

How do you find out why you owe

I don't have access to your return and without looking at your account it is impossible to know why you might owe. However, there are many reasons why you might owe this year, such as:

  • Your Income increased.
  • You had a second job.
  • You did not have enough taxes withheld during the year. 
  • You changed your Filing Status.
  • Number of dependents claimed this year.
  • You did not qualified for the full amount of the Child Tax Credit. If you don't have any Tax liability you will only receive the additional Child Tax Credit. 
  • You didn't qualify for the Earned Income creditWhen you qualify, the credit amount will go up as you earn more income, but once you earn too much, it will go down eventually to zero. TurboTax will figure out exactly how much you’ll receive. 

I recommend that you print a copy of last year's return and make line by line comparison to see what have changed.

 

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