How to calculate the amount you owe to the IRS

[ZachV]

Hello, this is my first year ever paying taxes. I am a SMLLC, and I already set up an account with the IRS to use Direct Pay. I did not pay estimated quarterly taxes this year because I knew I would not be paying more than 1000 dollars in taxes. I also made less money than the standard deduction. Do I wait until after I send in my 1040, SE, and Schedule C, to pay the IRS, or how exactly does that work? Once I send in the forms with Free Tax USA or Turbo Tax, will the IRS show the amount I need to pay online, or do I pay based on how much is owed on my 1040? If it's on my 1040, would that be line 23? Thank you

[DoninGA]

The amount of taxes owed for tax year 2022 will be on your 2022 federal tax return after you have completed the return.  If you have a net profit from your self-employment the taxes owed will include Self-Employment taxes which are the Employer and Employee portions of Social Security and Medicare taxes.

You will be asked how you want to pay the taxes owed in the File section on Step 2.

See this TurboTax support FAQ for paying the federal taxes owed - https://ttlc.intuit.com/turbotax-support/en-us/help-article/internal-revenue-service/pay-federal-tax...

[fanfare]

I don't know where you came up with line 23.

The amount you owe, in bold letters is 1040 Line 37

You can pay before, with, or after your submission.

@ZachV 

[ZachV]

Thank you, I meant to put 37. That's what I was looking for