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.
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.
It appears that 373 was taxed on 2600 of self employment income; why?
facing same dilemma now.. Ttax says I owe 59 dollars on 2400 worth of income?
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.
This year income is 2880 and intern non-employee compensation is 1500. Ttax says I owe 59 dollars?