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gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

 
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9 Replies

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

Did you receive a W-2 as an employee or were you self-employed and received a Form 1099-MISC or only cash?
TurboTax does not pay any type of taxes owed.  If the tax return shows that there are taxes owed then the taxpayer has to pay those taxes.
gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

Yes w-2 and self employed (intern) but the total income was under the 6k standard deduction so tax owed should be 0.  I didn't imply that Ttax paid, I used Ttax and it said I owed and I paid.  Now I am second guessing and wondering why Ttax didn't flag and say I didn't have to file or calculated wrong.
gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

It appears that 373 was taxed on 2600 of self employment income; why?
gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

facing same dilemma now..  Ttax says I owe 59 dollars on 2400 worth of income?
gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

Thank you, that explains it.

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

You would owe no Federal Income taxes if your earned income was less than $12,000 and you are filing as Single.  However, since you have self-employed income and a net profit from that income you will owe self-employment taxes, which are for Social Security and Medicare taxes.  The self-employment tax rate is 15.3% on 92.35% of the net profit.
gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

This year income is 2880 and intern non-employee compensation is 1500.  Ttax says I owe 59 dollars?
gconnor3
New Member

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

so well under 12000??

I had an income of $4132 and yet via turbo tax paid the IRS $373. Should I not have got back the money my employer withheld for taxes?

As stated, you would not owe Federal Income taxes.  The Self Employment taxes are separate from FIT.  If your W-2 box 2 had federal income taxes withheld then that amount would reduce the SE taxes you owed.
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