If I have taxable income on my 1040 without paying withholding do I owe taxes?

posted

Maybe. Maybe not if that income was capital gains. What does the return show for taxes due?

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

Usually, yes, if you have taxable income on your 1040 and had no withholdings you will owe taxes.

If you happen to have certain Capital Gains Income and are below a certain income level it is possible that you will not owe any taxes.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.