Question

Dramatic change in amount owed vs. amount due.

Forum|Forum|4 years ago
April 12, 2022
1 reply
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I have been preparing my own taxes using turbotax for years. This year preparing my taxes I entered my W2 and it showed I was due a refund of around $700. I then entered my wife's W2 and it swung to us owing over $10k. I removed both W2s and entered my wife's first. It showed refund due of around $300. Enter my W2 to the mix and now we owe over $10k again. I did all of the calculations for what I would owe tax wise and what my wife would owe tax wise both filing jointly or married filing separately. All the numbers show that we have paid more taxes than required and we should be due a refund of just over $1,000, but the turbotax software continually shows federal due of over $10k when I input both our W2s and I cannot make sense of why this is happening. Is this an issue with the software or does anyone have help with what is going on here?

DawnC

Employee

It sounds like you have some income reported elsewhere on your return. Look over your 2 page Form 1040 and see if anything stands out - your income is reported on Lines 1-8 on your Form 1040. If you have not entered or gone through all of the deductions and credit sections, you should ignore the refund meter until you are done.

Why did my refund drop (or now I owe) when I enter the second W-2?

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