Taxes

United States
February 26, 2008 8:42pm CST
Can anyone help me? I am using turbo tax and I am not a first time user. I entered all my info in and am getting a nice refund...until I enter my home deduction, interest & real estate tax, my refund drops $1000! Why?
1 person likes this
2 responses
@filmbuff (2909)
• United States
27 Feb 08
Turbo tax will calculate your return using both methods. Those being, standard deductions and itemized deductions. It will then eventually file using which ever one is best for you; although I do believe it will give you the option to pick which one you want. Keep using the program until you get to the very end and see what the total is. It's normal for you're refund to change as you keep entering more data. It's the final result that is important, not the figures that keep changing because you haven't entered all the data that is needed for a completed, acurate return. Hope that helps.
@Thoroughrob (11742)
• United States
27 Feb 08
I would keep going and see if it changes. It seems weird, I know, but maybe somewhere it will pick it back up. If you are not going to itemize, I would not enter it if it makes that much difference. Maybe it is trying to figure out which way you should go.