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New Member
posted Jun 26, 2020 10:03:40 PM

Hi I'm trying to do my taxes but shows the I due almost 2,000 to the IRS... Are there any credits or deductions I can add to my return?

How I can fix it to not due anything.?

0 3 302
3 Replies
Level 15
Jun 26, 2020 10:11:04 PM

Your are posting from Self-Employed--it is likely that you owe self-employment tax for Social Security and Medicare, and possibly ordinary income tax as well.  Did you pay estimated tax during the year?

 

We cannot see your tax return or your account.  We do not know what you have entered or what deductions or credits you might be eligible to use.  Did you enter your business expenses on your schedule C?  

 

Your business expenses are separate from any deductions you might enter on a Schedule A; you should be looking at the section for credits and deductions to see if you missed anything.   You can only itemize deductions on a Schedule A if your itemized deductions exceed your standard deduction.

 

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

 

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

 

Level 15
Jun 26, 2020 10:16:15 PM

If you will not be able to pay your tax due by the July 15, 2020 deadline, you can apply for a payment plan with the IRS:

 

https://www.irs.gov/payments/online-payment-agreement-application

Not applicable
Jun 26, 2020 10:19:06 PM

we can't see your return so it is unknown whether you missed or can add any deductions or credits. check your input.  for an additional fee you can upgrade to Live to have a CPA or an EA review your return. there is no guarantee that they'll come up with anything or if they do that it won't cost more out of pocket than taxes you save.