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dburr
New Member

$4.00 fed tax due with $00 income?

how did fed come up with tax?
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3 Replies

$4.00 fed tax due with $00 income?

If you have "zero" income why are you preparing an income tax return?   What are you trying to do?

**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.**
ThomasM125
Employee Tax Expert

$4.00 fed tax due with $00 income?

If you are referring to your taxable income and it is $0 but you owe taxes, it may from other things besides income, such as penalties. For instance, you may have a penalty for early withdrawal of pension funds. The income from that may not be taxable because you have deductions to reduce your income to $0, but you may still have to pay the penalty.

 

You will have to look at your Form 1040 and associated schedule 2 to see if you have any non-income taxes on your return.

 

To view your form 1040 and schedule 1 to 3:

 

  1. Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
  2. Choose Tools
  3. Choose View Tax Summary
  4. See the Preview my 1040 option in the left menu bar and click on it
  5. Choose the Back option in the left menu bar when you are done

 

 

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$4.00 fed tax due with $00 income?

Self employment income's SS & Medicare tax? 

That can be due even if your Std Deduction brings your regular taxable income down to zero.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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