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February 6, 2024
Question

Can someone help me get a better return?

  • February 6, 2024
  • 1 reply
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My returns are lower than what I should be getting

1 reply

February 6, 2024

The IRS Form W-4  has caused some changes in withholding for some people.  You should compare last year's return to the current year.  Income changes as well as withholding and credits or deductions will play a part in changes.

 

  1. Grab a copy of your 1040 from last year
  2. After you Sign in to TurboTax, 
  3. Select Tax Tools from the left menu
  4. Then Tools
  5. Next select View Tax Summary
  6. then Preview My 1040 from the left menu
  7. First, look to see if you filing status changed this year?  Your filing status will change if you got married or divorced, or if your spouse died.
  8. Then check your your dependents. Once your child reaches 17 years old, they no longer qualify for the “Child Tax Credit” and switch to the “Credit for Other Dependent” instead. Look to see which box is checked next to each dependent listed on your return. 
  9. Now, take a look at your total income on line 9. Changes here can be significant from one year to the next as your work changes.
  10. Continue to review the numbers on your 1040, and Schedules 1, 2 and 3 if applicable.

If you see changes you don't understand you can be ask more questions with more details.  You can also ask for assistance using TurboTax Live assistance.

 

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