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T
trc
March 19, 2021
Question

Why do I owe this year when I made less?

  • March 19, 2021
  • 1 reply
  • 0 views
my income is down, my tax rate up by 1% and instead of getting a return I owe $500

1 reply

B
BillM223
March 19, 2021

As you know, we in the Community cannot see your private tax data.

 

However, I would encourage you to sit down with your 2019 and 2020 tax returns and see what changed. Is the taxable income more in 2020? Is the withholding less? Is some credit that you had in 2019 missing from 2020?

 

If you used TurboTax Live and asked for a review of your return, that is the first thing we would do.

 

If this process points to something puzzling, then come back and ask us about it.

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