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jivepar
New Member

filing jointly, line15 shows a taxable inc of $418. Work freelance and has $537 self-employment tax. I expect to pay 537 + (10% of $418) = $578 turbo shows 537 only?

It seemed the $418 was not taxed at all.
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3 Replies
MayaD
Employee Tax Expert

filing jointly, line15 shows a taxable inc of $418. Work freelance and has $537 self-employment tax. I expect to pay 537 + (10% of $418) = $578 turbo shows 537 only?

Did you receive any tax credit?

Check you 1040 form, for example, Child tax credit or credit for other dependents from Schedule 8812 will show on form 1040 line 19. 

 A tax credit is a dollar-for-dollar amount you claim on your tax return to reduce the income tax you owe.

 

Tax credits for individuals

 

To preview your 1040 in TurboTax online:

  1. From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)
  2. Select Tax Tools. On the drop-down select Tools 
  3. On the pop-up menu titled “Tools Center”, select View Tax Summary 
  4. On the left sidebar, select Preview my 1040 

 


 

 
 

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jivepar
New Member

filing jointly, line15 shows a taxable inc of $418. Work freelance and has $537 self-employment tax. I expect to pay 537 + (10% of $418) = $578 turbo shows 537 only?

No Credit at all. Lines 16 to 22 are zeroes or blanks. Line 23 shows the amount of $537 which represent only tax on self employment income.

dmertz
Level 15

filing jointly, line15 shows a taxable inc of $418. Work freelance and has $537 self-employment tax. I expect to pay 537 + (10% of $418) = $578 turbo shows 537 only?

Or perhaps you have at least $418 of long-term capital gains and the $418 of taxable income is being taxed at 0%.

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