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I ammended with 4188.00 to my return with an unexpected 1099-c. I now owe $1050.00 more on federal and 294.00 on state. Does this sound like the normal amount?
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I ammended with 4188.00 to my return with an unexpected 1099-c. I now owe $1050.00 more on federal and 294.00 on state. Does this sound like the normal amount?
You are still receiving your original refund amount. The net of the original refund and the amount you owe now is what your original refund/amount owed would have been if the 1099-C was included in your original e-file.
Not knowing anything about your filing status, income level, etc.; I can only speculate about the tax amount. The amount you now owe is approximately 25% of the income you added. But there could be other factors that are affecting your return. For instance, if you had the Child Care Credit and/or Earned Income Credit, those credit amounts could have decreased due to the increase in your income.
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I ammended with 4188.00 to my return with an unexpected 1099-c. I now owe $1050.00 more on federal and 294.00 on state. Does this sound like the normal amount?
You are still receiving your original refund amount. The net of the original refund and the amount you owe now is what your original refund/amount owed would have been if the 1099-C was included in your original e-file.
Not knowing anything about your filing status, income level, etc.; I can only speculate about the tax amount. The amount you now owe is approximately 25% of the income you added. But there could be other factors that are affecting your return. For instance, if you had the Child Care Credit and/or Earned Income Credit, those credit amounts could have decreased due to the increase in your income.
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