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rootyrap
New Member

Why do I have to pay so much money? my 1099's equal to only 15,000.

i only made $15,040 last year from gig apps.  the amount i owe is more than the difference of the standard deduction.
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2 Replies

Why do I have to pay so much money? my 1099's equal to only 15,000.

It sounds like you have self-employment income  so you have to pay self-employment tax for Social Security and Medicare.   If you had any business expenses you can enter your expenses on a Schedule C.

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/...

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rootyrap
New Member

Why do I have to pay so much money? my 1099's equal to only 15,000.

Thank you so much! 

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