topic Fed Tax Amount in Get your taxes done using TurboTax

Fed Tax Amount

dgdunham — Wed, 11 Feb 2026 07:30:07 GMT

Last minute--did quick calculation of taxes--$2000 income, $17,000 deductions, but program calculates Fed tax as $135??

Re: Fed Tax Amount

VolvoGirl — Tue, 16 Apr 2024 01:14:08 GMT

Would need more info and 1040 line numbers. Are you Single? Is 2,000 after deductions? Your deductions might be limited. Is this from W2 income or self employment on a 1099NEC? If you got a 1099NEC you owe self employment tax even if you don't owe any regular income tax.

Re: Fed Tax Amount

dgdunham — Sat, 20 Apr 2024 16:55:02 GMT

Turned out it was self-employment tax that did the deed--thank you, though!