Why didn’t my money go up after adding a w2

toot1713 · ‎June 1, 2019

Why didn’t the 2nd w2 help at all

Rachel_W · ‎June 1, 2019

Unfortunately, adding a Form W-2 usually decreases your refund rather than increasing it.

This is because your tax liability is calculated on your total income (after deductions and credits), not on each individual Form W-2. As your taxable income increases, your tax liability increases as well.

In addition, as your taxable income increases, you may lose eligibility for income-based tax credits such as the Earned Income Credit or lose the ability to claim certain deductions.

Please check out the TurboTax FAQ below for detailed examples of what I have described here:

https://ttlc.intuit.com/replies/3798403

View solution in original post

Rachel_W · ‎June 1, 2019

Unfortunately, adding a Form W-2 usually decreases your refund rather than increasing it.

This is because your tax liability is calculated on your total income (after deductions and credits), not on each individual Form W-2. As your taxable income increases, your tax liability increases as well.

In addition, as your taxable income increases, you may lose eligibility for income-based tax credits such as the Earned Income Credit or lose the ability to claim certain deductions.

Please check out the TurboTax FAQ below for detailed examples of what I have described here:

https://ttlc.intuit.com/replies/3798403