Tax Year Prior to 2020: Taxes owed when claiming income of $136k

[dmcuevas2]

If I claim Single and 1 for the entire tax year, and I'm head of household, does it sound correct that I would still

owe over $4k?  I also have a home that I claimed the interest for.  I'm not sure why after never owing taxes?

[KarenL]

It really depends on all your other income you have, but most importantly your actual tax withholding.  You would get a Standard Deduction of $18,000 for filing as Head of Household.  If your mortgage and other itemized deductions are higher than that amount, you would benefit from itemizing on Schedule A.   This link has the federal tax brackets so you can figure out approximately where your income falls. 

Another thing to look at is your withholding from 2017. Many employers have lowered the amount of taxes they are taking from paychecks to better comply with the overall lower tax brackets in 2018.

[Bees]

Not enough information to say  but your gross income less the standard deduction amount of 18,000 would leave you in 24% tax bracket for income over 82,000. Depending on your amount withheld over the year from your pay you could still owe at the end of the year.

https://www.bankrate.com/finance/taxes/tax-brackets.aspx

 Did you have state taxes(which are limited this year to 10,000) which includes state income taxes and your real estate taxes and your mortgage interest. that exceed the 18,000 standard deduction? Medical expenses that are over 7.5% of your AGI are also deductible.

 There is no longer a personal exemption of 4,050 which reduces the taxable income but there is a family credit(which reduces the tax owed) of 500 per individual. 

[dmcuevas2]

Thank you for your input!!!