Solved: The more W-2's I enter, the lower my refund goes. Mehhh! It's like the more I work, the more money the government keeps. Is this correct?
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craytayred
New Member

The more W-2's I enter, the lower my refund goes. Mehhh! It's like the more I work, the more money the government keeps. Is this correct?

 
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xmasbaby0
Level 15

The more W-2's I enter, the lower my refund goes. Mehhh! It's like the more I work, the more money the government keeps. Is this correct?

You started off with your first W-2 and your refund look pretty good?  Then you added another W-2 and it stopped looking so good? That is normal.  When you added more income, your tax liability increased, so you saw your refund decrease.  The program begins by giving you your personal exemption of $4050 plus your standard deduction—both of which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2.  Then you added taxable income--so the refund went down. Your refund (or tax due) is based on the total of your income, not “per W-2.”  Wait until you have entered ALL of your income and deduction information.  You can't really tell anything until it is all entered.  That “refund monitor” does not mean anything until everything has been entered.

**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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xmasbaby0
Level 15

The more W-2's I enter, the lower my refund goes. Mehhh! It's like the more I work, the more money the government keeps. Is this correct?

You started off with your first W-2 and your refund look pretty good?  Then you added another W-2 and it stopped looking so good? That is normal.  When you added more income, your tax liability increased, so you saw your refund decrease.  The program begins by giving you your personal exemption of $4050 plus your standard deduction—both of which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2.  Then you added taxable income--so the refund went down. Your refund (or tax due) is based on the total of your income, not “per W-2.”  Wait until you have entered ALL of your income and deduction information.  You can't really tell anything until it is all entered.  That “refund monitor” does not mean anything until everything has been entered.

**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.**

View solution in original post

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