Last minute--did quick calculation of taxes--$2000 income, $17,000 deductions, but program calculates Fed tax as $135??
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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.
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.
Turned out it was self-employment tax that did the deed--thank you, though!
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