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Why did I end up owing so much more federal taxes this year compared to last year when our income and all else was almost identical?

 
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2 Replies
TomK
Expert Alumni

Why did I end up owing so much more federal taxes this year compared to last year when our income and all else was almost identical?

pk
Level 15
Level 15

Why did I end up owing so much more federal taxes this year compared to last year when our income and all else was almost identical?

Note that in 2017, you had personal exemption + exemption per dependent and this year there is none.  Even though this year standard deduction is higher  but there are also limits on items  in itemized deduction ( SALT) and even for mortgage interest.
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