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rkblcb
New Member

I was done entering all of my income and it showed i was getting 1,000 refund. When I added my home interest and property taxes my refund went down. Why ?

 
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Patrice
New Member

I was done entering all of my income and it showed i was getting 1,000 refund. When I added my home interest and property taxes my refund went down. Why ?

Whenever you enter your taxes and interest this reduces your taxable income and certain refund credits are based on the amount of taxable income that you have (for example: earned income credit and child tax credit).  Therefore by putting in deductions such as taxes/mortgage interest and reducing your taxable income this results in a reduced credit and that results in your refund going down.

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Patrice
New Member

I was done entering all of my income and it showed i was getting 1,000 refund. When I added my home interest and property taxes my refund went down. Why ?

Whenever you enter your taxes and interest this reduces your taxable income and certain refund credits are based on the amount of taxable income that you have (for example: earned income credit and child tax credit).  Therefore by putting in deductions such as taxes/mortgage interest and reducing your taxable income this results in a reduced credit and that results in your refund going down.

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