Solved: On the 1099-MISC. I only received $600.00 from the $1784.43, due to commission and other expenses associated with the rental of my unit
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New Member

On the 1099-MISC. I only received $600.00 from the $1784.43, due to commission and other expenses associated with the rental of my unit

How much less will I owe In taxes?
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New Member

On the 1099-MISC. I only received $600.00 from the $1784.43, due to commission and other expenses associated with the rental of my unit

The $600 will be taxed at your regular tax rate and the 15.3%  for social security and medicare will be (approximately) $90.

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New Member

On the 1099-MISC. I only received $600.00 from the $1784.43, due to commission and other expenses associated with the rental of my unit

The $600 will be taxed at your regular tax rate and the 15.3%  for social security and medicare will be (approximately) $90.

View solution in original post

New Member

On the 1099-MISC. I only received $600.00 from the $1784.43, due to commission and other expenses associated with the rental of my unit

I had to wait for your answer so I added the $1784.43 as additional income... Will I get a refund?
New Member

On the 1099-MISC. I only received $600.00 from the $1784.43, due to commission and other expenses associated with the rental of my unit

You will never get a refund from income froma 1099-MIsc unless you made estimated payment or are eligible for an earned income credit higher than your self-employment tax.
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