1497736
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Why is my 2019 Federal Return smaller (by about $500) than my 2018 one?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
ee-ea
Level 15

Why is my 2019 Federal Return smaller (by about $500) than my 2018 one?

hifibrain94730
Returning Member

Why is my 2019 Federal Return smaller (by about $500) than my 2018 one?

Because your income was a little less in 2019, and/or your deductions were a little greater. The standard deduction is more in 2019, so that has something to do with it. See this website for some interesting info:

https://www.fool.com/taxes/2018/11/18/its-official-the-2019-standard-deduction-is-gettin.aspx

 

hifibrain94730
Returning Member

Why is my 2019 Federal Return smaller (by about $500) than my 2018 one?

Of course, if you mean a smaller refund for 2019, then it is the other way around despite the increased standard deduction. If you are on Social Security your income increased by 2.8% over 2018, and the Part B premium taken from your SSA check went up just $1.50/mo from $134 to $135.50. So net SSA income went up some in 2019. If you are employed, then something may have changed to reduce your gross income such as greater health insurance premiums or other deductions from your check and tax withholding. You could compare 2018 and 2019 W-2 forms to determine that. If your income at work was not less, then the only other cause that I can think of is a difference in tax rates/brackets for 2019 vs 2018.

Why is my 2019 Federal Return smaller (by about $500) than my 2018 one?

And the IRS changed the withholding tables so you got more in your checks during the year instead of a big refund.  Or there are other tax changes.  And any  dependents you have are a year older.  If you made more income that can reduce some credits you got like the EIC.  

 

Here's a good FAQ on why your refund might be less than last year

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question