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Why is taxcaster predicting a hugely larger refund than TurboTax is showing I'm going to get?

 
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Vanessa A
Expert Alumni

Why is taxcaster predicting a hugely larger refund than TurboTax is showing I'm going to get?

TaxCaster generally does not have all of the information that goes into your return so if you are seeing a difference, then it could be that you entered additional information or more exact information into TurboTax that was not taken into consideration with TaxCaster. 

 

TaxCaster is a generic estimate that looks at the basics, but doesn't analyze your situation. For example, if you told TaxCaster you are claiming your 19 year old child, which would make you eligible for Head of Household, but then in TurboTax  when answering the questions about them said they are out of school, and have a full-time job, you would not be able to claim them and would not be eligible to claim Head of Household.  This would lower your standard deduction which would increase your taxable income and tax liability which would lower your refund. 

 

If your refund is much different than in past years and your situation hasn't changed since last year, you should double check your entries to be sure it is not an entry error causing the descrepency. 

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