Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

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

cancel
Showing results for 
Search instead for 
Did you mean: 
melaniamacedo
New Member

Why am I paying taxes?

 
1 Best answer

Accepted Solutions
LeeM
New Member

Why am I paying taxes?

I would first print your 2015 and 2016 returns and compare them line by line. This will help you determine what has changed, if there are any discrepancies/items you missed or if you need to change any of the information you entered into TurboTax. 

There are several factors that go in to determining the taxes you owe.  

If your income increased, which might have put you in a higher tax bracket, it could have reduced or eliminated some deductions or credits and the tax laws changing year to year will determine the amount of taxes that need to be paid as well.  

If your income decreased, that sometimes can reduce your refund due to you not having enough earned income to receive the deductions or credits you did before.  

View solution in original post

2 Replies
LeeM
New Member

Why am I paying taxes?

Do you have a specific question? Is your amount due more than you thought? Did you file taxes in 2015?
LeeM
New Member

Why am I paying taxes?

I would first print your 2015 and 2016 returns and compare them line by line. This will help you determine what has changed, if there are any discrepancies/items you missed or if you need to change any of the information you entered into TurboTax. 

There are several factors that go in to determining the taxes you owe.  

If your income increased, which might have put you in a higher tax bracket, it could have reduced or eliminated some deductions or credits and the tax laws changing year to year will determine the amount of taxes that need to be paid as well.  

If your income decreased, that sometimes can reduce your refund due to you not having enough earned income to receive the deductions or credits you did before.  

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v