DaveF1006
Expert Alumni

Get your taxes done using TurboTax

You shouldn't owe any money if the income is properly reported. Your AGI should equate to the miscellaneous income amount. My guess is that your miscellaneous income did not exceed your standard/itemized deduction amount and that is why you do not owe.  In 2022, the standard deduction amounts are,  $12,950 for single filers, $25,900 for joint filers or $19,400 for heads of household. 

 

Another reason why you may not owe tax is that you may have had enough non-refundable tax credits that offset your tax liability for the year. Please refer to this Turbo Tax article for further information regarding non-refundable credits.

 

Rest assured, Turbo Tax has handled this correctly and this should not raise a red flag with the IRS. For the reasons that are described above, you did not have enough income to generate a tax due.

 

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