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Level 1
June 1, 2019
Question

If my exemptions are more than my 1099 income, why do I owe taxes?

  • June 1, 2019
  • 1 reply
  • 17 views
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1 reply

macuser_22
Alumni - Champ
Alumni - Champ
June 1, 2019

If your 1099-MISC income is over $400 then you must pay the SE tax (Medicare and Social Security) whether income tax is due or not. 

The SE tax is 15.3% of the gross income.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**