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Why would I owe more in 2024 then 2023 if my income is less in 2024?

 
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2 Replies

Why would I owe more in 2024 then 2023 if my income is less in 2024?

You probably had less withholding taken out.  And with a lower income you might not get as much credits as you did last year.  You have to print out and compare this year with last year’s return LINE BY LINE and see what changed.  

MayaD
Expert Alumni

Why would I owe more in 2024 then 2023 if my income is less in 2024?

Your eligibility for tax credits and deductions can change from year to year which can affect your tax bill.

It is possible that: 

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