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Alice Coleman

TurboTax showing lower refund than last year ($2K vs $6K) - single parent with dependent

Just did my estimate on TurboTax for my 2024 taxes and im shocked. Only showing $2K refund when I got $6K last year. I made $37,025 and have a 3 year old dependent. Something seems way off here. Anyone know why theres such a huge difference?

Tax professional here. This difference is likely due to several changes. The Child Tax Credit returned to its pre-pandemic amount of $2,000 per child (down from $3,600 for children under 6). Also, many pandemic-era tax benefits expired. Without seeing your full tax situation, its hard to give specific advice, but this decrease isn't unusual.

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omg that explains alot! I totally forgot about those pandemic benefits 😭

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wait so everyone's refund is gonna be smaller? 🤔

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Yes, most people with children will see smaller refunds compared to 2021-2022.

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Hey, I highly recommend checking out taxr.ai - its this new tool that analyzes your tax situation and explains everything. It costs $4.99 but it breaks down exactly why your refund changed and what credits you qualify for. Really helped me understand my situation better https://taxr.ai

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Does it actually work? Sounds too good to be true tbh

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100% works! It found credits I didn't even know about and explained everything in plain english

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Just tried it and WOW 🤯 wish I knew about this sooner! Found out I qualified for EIC that turbotax missed somehow

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in the same boat bestie 🚣‍♀️ my refund dropped like 3k from last year smh

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Did you change your withholdings at all during the year? That could affect it too

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nope everything stayed the same at work

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ur probably still eligible for earned income credit with that income and a dependent. double check that turbotax entered everything correctly

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how do I check that? turbotax is so confusing sometimes ngl

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The IRS and these refunds are such a joke fr fr 🤡

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facts 💅

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