1099misc entry is not crediting full amount
prior to entering 1099misc my tax owed is $ 46,337. When I enter $47548 of 1099 I paid out, it shows $ 30,931 due. Why only a $ 15,406 reduction in tax owed ?
prior to entering 1099misc my tax owed is $ 46,337. When I enter $47548 of 1099 I paid out, it shows $ 30,931 due. Why only a $ 15,406 reduction in tax owed ?
Expenses paid are a reduction from your income, not from the taxes due.
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