If deductions exceed total income, then taxable income is 0. Should I owe any tax if taxable income is zero?

ralovela — Tue, 04 Jun 2019 01:38:38 GMT

Yes you can still owe for other things. Like if you have...

VolvoGirl — Tue, 04 Jun 2019 01:38:39 GMT

Yes you can still owe for other things. Like if you have any self employment tax or a penalty for something like the 10% early withhdrawal penalty on IRA withdrawals. Check over your return 1040 lines 57-62.

topic If deductions exceed total income, then taxable income is 0. Should I owe any tax if taxable income is zero? in Retirement tax questions

If deductions exceed total income, then taxable income is 0. Should I owe any tax if taxable income is zero?

Yes you can still owe for other things. Like if you have...