Why do we owe more in taxes in 2020 than we did in 2019?

There are a number of possibilities:

1. You made a typo

2. The tax law changed

3. You have forgotten to enter a form that you had last year (or you forgot to enter that form last year but did this year)

4. Your withholding changed (because of tax law changes, the IRS has been updating the withholding tables)

5. Change in filing status or number of dependents

6. Many other possibilities

If you used the TurboTax Live service and asks that question of the tax professional, the first thing he/she would do is to take your 2019 and 2020 returns and look for differences. Frequently, the cause of the difference jumps out at you, which will direct you to the place where you made the input.

Once there, you will either understand the cause, or you will come back to us and ask us why the change here in the Community.

Remember that we in the Community cannot see your private tax data, so we know only what you tell us.