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piduwynn
New Member

No taxable income but $369 due to the IRS. Explanation needed.

 
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Accepted Solutions
SweetieJean
Level 15

No taxable income but $369 due to the IRS. Explanation needed.

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7 Replies
VolvoGirl
Level 15

No taxable income but $369 due to the IRS. Explanation needed.

Your return shows a tax due?  Or you got a letter from the IRS?  If you have no taxable income why are you filing a return?  What income do you have?
piduwynn
New Member

No taxable income but $369 due to the IRS. Explanation needed.

We had income, but that was completely offset by losses in an S corporation we own.
SweetieJean
Level 15

No taxable income but $369 due to the IRS. Explanation needed.

A penalty for not having health insurance, maybe?
VolvoGirl
Level 15

No taxable income but $369 due to the IRS. Explanation needed.

What income did you have?  Get any 1099R forms?  Even though you have no taxable income you might owe the 10% Early Withdrawal Penalty or some self employment tax?  Or paying back the First time homebuyer's credit.

You can (and should) preview your return.   To preview your Online return, go to My Account at the top.  Then Tools, then View Tax summary.  Then you can click on Preview My 1040 at the top.    OR click Review near the top of your screen, and then click Summary right below it.  Then Near the bottom of the We Guarantee Your Maximum Refund screen, click the Preview Return link.  

   To see all the forms you have to pay the fees first.   <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/replies/3302322">https://ttlc.intuit.com/replies/3302322</a>
TaxGuyBill
Level 9

No taxable income but $369 due to the IRS. Explanation needed.

When you look at your Form 1040, specifically look at Lines 44-46 and 57-62.  Those are the lines that show the various taxes.

If you still are unsure why there is that tax, let us know which line(s) show the tax.
piduwynn
New Member

No taxable income but $369 due to the IRS. Explanation needed.

Tax Guy Bill, your advice was right on the money. I looked at Lines 57-62 of my Form 1040 and found that in 2016, because of changes in our income stream, we were subject for the first time to the self-employment tax. Thanks for your help; it was invaluable.
SweetieJean
Level 15

No taxable income but $369 due to the IRS. Explanation needed.

Solved in comments.

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