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After completing my tax entry, my taxable income is $0. TurboTax shows that I owe $142 in Federal Taxes. What situations require me to pay taxes with $0 taxable income?

I have a lot of income sources: SS, Int, Rent, Misc, Div.

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DanaB
Expert Alumni

After completing my tax entry, my taxable income is $0. TurboTax shows that I owe $142 in Federal Taxes. What situations require me to pay taxes with $0 taxable income?

It seems like you have to pay self-employment tax from entering the 1099 MISC. You can check Schedule 2 line 4 for the amount of self-employment tax.

[Edited 3/17/2020 | 3:00 PM PST]

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1 Reply
DanaB
Expert Alumni

After completing my tax entry, my taxable income is $0. TurboTax shows that I owe $142 in Federal Taxes. What situations require me to pay taxes with $0 taxable income?

It seems like you have to pay self-employment tax from entering the 1099 MISC. You can check Schedule 2 line 4 for the amount of self-employment tax.

[Edited 3/17/2020 | 3:00 PM PST]

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