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June 6, 2019
Solved

If I worked three jobs why does my tax return go lower?

  • June 6, 2019
  • 1 reply
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I worked three jobs this passed year and my income tax return starts off big, but then why does it always go down with every w-2 I put in?
Best answer by Marketstar

When you first start your return, TurboTax applies your standard deduction and personal exemption, which means you may see an artificially high refund after entering that first W-2.

As you enter additional income, your refund is likely to decrease because it does not have all the deductions tied to it as the first W-2. In addition, your subsequent W-2(s) entered may be under withheld.

The more information you enter, the more accurate the refund meter will be, and will be totally accurate once you have entered all of your personal information including all income and deductions.

1 reply

Employee
June 6, 2019

When you first start your return, TurboTax applies your standard deduction and personal exemption, which means you may see an artificially high refund after entering that first W-2.

As you enter additional income, your refund is likely to decrease because it does not have all the deductions tied to it as the first W-2. In addition, your subsequent W-2(s) entered may be under withheld.

The more information you enter, the more accurate the refund meter will be, and will be totally accurate once you have entered all of your personal information including all income and deductions.