I am a minor and received all my income as a 1099-NEC employee. I did not make estimated tax payments because I thought I wouldn't owe. After completing taxes I owe $248

[carm463855]

Is this correct?

[MayaD]

If payment for services you provided is listed on Form 1099-NEC, the payer is treating you as a self-employed worker, also referred to as an independent contractor.

As Self-employed you must pay self-employment tax (SE tax) as well as income tax. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners.

For more information, please check Self-Employed Individuals Tax Center

[Carl]

Basically, if you have more than $433 of self-employment income (usually reported on a 1099-NEC) then you will pay 15.3% self-employment tax on the amount that exceeds $433.