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February 15, 2021
Question

Why does the refund amount (at the top of the screen) increase by ~$1,200 when I add a non-relative adult dependent, then decrease by ~$1,000 when I input her SSN?

  • February 15, 2021
  • 1 reply
  • 0 views
My federal refund was $9,764 before adding the last dependent. It jumped to $10,959 once I put her information in--until I input her SSN, when it suddenly dropped to $9,859... I selected the following: the dependent is a US citizen or legal resident

1 reply

SForrestLO
February 19, 2021

Keep in mind that the refund meter is dynamic and may recalculate with every click and change on your return. Your refund will not be finalized until completion and ready to file. One way to feel confident in the preparation of your tax return and your refund amount is to compare your prior year's return with the current year. The format of the 1040 has changed from 2019 to 2020, so you cannot compare line numbers. Be sure to review by the line description. Some important lines to consider are total income, taxable income, tax due, total payments, and refund or balance due. This will give you an idea of whether or not you left anything out before you file. Also, take into consideration any job changes, life changes (marriage, new home, dependents, etc.) that may affect your return. Consider whether or not you have included all sources of income on your return such as W2's, interest, dividends, or self-employment income. Review the Deductions & Credits section of TurboTax to make sure you have taken advantage of all the potential tax breaks. Finally, be sure to run the review to look for any potential errors.

 

You can also have an expert review your taxes, click here for more information. 

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