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I just finished filling my tax returns. I'm very concerned about the outcome. I have never owed money at the end of the year. I have used Turbo Tax for several years.

 
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I just finished filling my tax returns. I'm very concerned about the outcome. I have never owed money at the end of the year. I have used Turbo Tax for several years.

@susie-alexander3769   wrote:  "I just finished filling my tax returns. I'm very concerned about the outcome. I have never owed money at the end of the year. I have used Turbo Tax for several years."

 

You said "filling."   Hopefully, that means preparation and that you haven't actually filed yet.  It's still way early.   Have you already received any W-2's and/or 1099's, if applicable?

 

Print out a copy of your 2023 return and your 2024 return.   Compare them line by line to see if you spot any discrepancy to learn where something changed since last year or if there was a possible entry mistake, etc.

 

It's also possible that if your income increased, dependents got older, your eligibility for certain tax credits, etc. could have decreased, or possibly withholding (and/or estimated tax payments) didn't keep up, etc.

I just finished filling my tax returns. I'm very concerned about the outcome. I have never owed money at the end of the year. I have used Turbo Tax for several years.

We cannot see your screen, your return or your account.  Have you entered ALL of your 2024 information?  All your income, etc.?  Many tax documents that you need do not arrive until late January or even February, so likely you do not have it all there yet.

 

 

There are a lot of variables that affect your refund or tax due including how much you earned, how much tax you had withheld, your filing status, the number of dependents you claim, your deductions and credits, etc.  You may have lost Earned Income Credit or the Child Tax Credit— did a child turn 17?  If you received the EIC last year, remember that changes in the amount you earn have a big effect on the amount of EIC you can get. (Sometimes earning more money means less EIC)  Are you 65 or older ?  If so, your standard deduction is higher. Everyone has a higher standard deduction now so it is harder to use itemized deductions.

 

 

And of course, always check your own data entries, looking for errors such as misplaced decimals or extra zeros.

 

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

 

Print out 2023  and 2024  and compare them side by side to see what is different. 

 

https://ttlc.intuit.com/community/refunds/help/why-did-my-refund-go-down-compared-to-last-year-s/00/...

 

https://turbotax.intuit.com/tax-tips/tax-payments/video-why-would-i-owe-federal-taxes/L3VXudPiN

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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