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

posted

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.**

Is gain on the sale of home counted as taxable income? 0 percent, 15 percent or 20 percent per income tax bracket is based on ordinary income, not capital gain?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

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

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

Get more help

Do you have a TurboTax Online account?

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

Do you have an Intuit account?

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

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert