Anyone else shocked with their 2018 tax return?

[Turbo6]

So we just put our info in turbo tax and I almost had a heart attack.....

we usually get a decent refund every year and now we owe almost 10k.....

Anyone have any similar outcomes? Trump can suck my you know what if this is the norm.....

[MASTERS]

Nope, less was taken out for taxes all year and still got back the same as last year....

[hully1029]

Nope. Was about normal. Got back 32 bucks.. I try to be as close to zero as possible.

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[Turbo6]

I can't imagine how we go from getting 4-5k a year to owing what we owe.

[Robert]

I’m happy I broke even

[JLivi1224]

Hell with a return. I would rather not give the government an interest free loan for the year.

[HoustonHunter94]

We’re usually within $500 either way each year. Have even looked at it yet this year.


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[Trevor73402]

I got back about $9K, but I have a lot of farm deductions. I was hoping to get back closer to $12K, but it didn’t work out that way.

[Turbo6]

Hell with a return. I would rather not give the government an interest free loan for the year.

That's not the point.

The point is NOTHING CHANGED.

Same jobs, some house, same mortgage, ect.

The only thing different is now we owe a crazy amount. I've been doing my own taxes for years but may go sit with someone to see if I am missing something but can't imagine what it would be.

[planomustang]

I can't imagine how we go from getting 4-5k a year to owing what we owe.

You need to research "dependents" and other ways to amortize you tax payments, so that you don't owe anything in March.

BTW, your were not getting a 4-5k year refund, you were just loaning the USG 4-5k at 0% interest.

[Trevor73402]

You may want to check your numbers. That doesn’t sound right. All things being the same, you should not owe that much versus last year. The standard deductions were raised a bit, but that wouldn’t cause you to owe that much.

[tkuehn5410]

Difference is that with his tax plan, there were fewer taxes taken out of checks....the MSM publicized this, but no one listened. Unless your in the 250+ category...

I'm self employed, make quarterly payments, and wife works for the state, and we're making more on our tax refund.

[bossbowman]

You may want to check your numbers. That doesn’t sound right. All things being the same, you should not owe that much versus last year. The standard deductions were raised a bit, but that wouldn’t cause you to owe that much.

^THIS, with the changes most tax returns are less but then less was taken out for taxes all year so its a wash. But of course come return time people are screaming why they didn't get back as much as last year

[SNIPER3388]

Hell with a return. I would rather not give the government an interest free loan for the year.

Yep. Break even!!!

[Loneaggie]

Smaller refund this year, but % wise paid in less all year. Something sounds wrong with yours though. What really matters is what was your effective tax rate.