I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (2024)

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Do you have an Intuit account? I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? Related Content FAQs

I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (1)

hailey-nacole-pa

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Does anyone know why this happens? For example, my 1st job said I would recieve 500 when I put in my second it comes down to 250?

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‎May 31, 20197:38 PM

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers?

That is normal. When you added more income, your tax liability increased, so you saw your refund decrease. The program begins by giving you your personal exemption of $4050 plus your standard deduction—both of which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2. Then you added taxable income--so the refund went down. Your refund (or tax due) is based on the total of your income, not “per W-2.” Wait until you have entered ALL of your income and deduction information. You can't really tell anything until it is all entered. That “refund monitor” does not mean anything until everything has been entered.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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‎May 31, 20197:38 PM

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (5)

I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (6)xmasbaby0

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers?

That is normal. When you added more income, your tax liability increased, so you saw your refund decrease. The program begins by giving you your personal exemption of $4050 plus your standard deduction—both of which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2. Then you added taxable income--so the refund went down. Your refund (or tax due) is based on the total of your income, not “per W-2.” Wait until you have entered ALL of your income and deduction information. You can't really tell anything until it is all entered. That “refund monitor” does not mean anything until everything has been entered.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

‎May 31, 20197:38 PM

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (7)

hailey-nacole-pa

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers?

Thanks so much!

‎May 31, 20197:38 PM

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (8)

retiree

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers?

Refund Monitor amount went down after entering second w-2

Not unusual. There are many reasons that could result in such a situation; and since this is a public forum you do not want to post your personal information. The primary reason is very simply that you likely HAVE NOT completed entering ALL of your information --the guesstimate is only as good as the information you enter accurately and correctly.

The ideal situation is to have EXACTLY the correct amount withheld ($0 owed and $0 refund). Unfortunately that is a very difficult amount to predict, and is somewhat of a moving target due to salary increased/decreases and tax law changes.

https://ttlc.intuit.com/questions/2273878-why-did-my-refund-drop-when-i-entered-another-w-2


‎May 31, 20197:38 PM

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I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? (2024)

FAQs

I worked two jobs this year, and when I enter my second jobs W2 my refund amount lowers? ›

When you added more income, your tax liability increased, so you saw your refund decrease. The program began by giving you your standard deduction—- which lowered your taxable income. So you are not being taxed on as much of the income on that first W-2. Then you added taxable income--so the refund went down.

Tell Me More ›
Why did my return go down after entering another W-2? ›

Generally, more income means more taxes. Your new total income might be in a higher tax bracket. Your second W-2 could have pushed your total income into a higher tax bracket, making it taxed at a higher marginal rate.

Learn More ›
Does having multiple W-2s affect your tax return? ›

If you have two W-2s for two different jobs, you'll enter all of the relevant information from each one on your tax return when you file. That includes: Each employer's name and address. Each employer's federal identification number (EIN)

Show Me More ›
What happens if you file a W-2 twice? ›

If a second tax return is submitted under the same social security number, the subsequent return will be flagged by the IRS's automated system, the return will be rejected, and an explanation and error code will be sent to you.

See Details ›
What happens if I don't report my second W-2? ›

What happens if I already filed my taxes and got another W2? If you forget to include a W-2 when you file your taxes, the IRS will catch it and send you a bill for the taxes you owe. You may also be subject to penalties and interest charges.

Get More Info ›
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