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Deductions & credits
if you are self-employed, you have self-employment tax to consider in addition to federal income tax. Also i am confused by your summary totals you put there. For an example, what is the deduction totals you have listed. This does not resemble any standard deduction amount I am aware of.
Reply back and give us a total of your net income for the year, minus the standard deduction amount so we can give you an accurate summation. Use this as a guide for Standard Deduction.
- Single or Married filing separately—$13,850.
- Married filing jointly or Qualifying surviving spouse—$27,700.
- Head of household—$20,800.
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April 11, 2024
9:32 AM