topic I am an independent contractor..made just enough to live last year and years prior...However the government wants money back?? These forms don't ask for rent $?? in Investors & landlords

I am an independent contractor..made just enough to live last year and years prior...However the government wants money back?? These forms don't ask for rent $??

helpmeplease33 — Tue, 04 Jun 2019 19:08:36 GMT

Your tax is based on your income, not your living expense...

rjs — Tue, 04 Jun 2019 19:08:38 GMT

Your tax is based on your income, not your living expenses. If your income is very low you may not have to pay any income tax. But if you made more than $400 as an independent contractor you have to pay self-employment tax, even if you don't have to pay any income tax. The self-employment tax is included in your income tax return.

Did you make estimated tax payments during the year? An independent contractor is supposed to make quarterly tax payments so that you don't get hit with a big tax bill at the end of the year. The quarterly estimated tax payments are a substitute for the tax that would be withheld from your pay if you were an employee.

People with very low income are often eligible for the Earned Income Credit (EIC). Did you check to see if you are eligible? Go through the Earned Income Credit topic in TurboTax to see if you are eligible.

also with low income and being an independent contractor...

Anonymous — Tue, 04 Jun 2019 19:08:39 GMT

also with low income and being an independent contractor and schedule C was a profit you should have gotten a QBI deduction - look on line 9 of form 1040. if schedule c was a profit and nothing is showing on line 9 you didn't properly complete the Qualified Business Income section and questions.