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I'm an ind. contractor & have NOT paid quarterly tax, but shows I am getting a refund. Is it taking what I owe in tax ($3503) from my credits ($4676)? Or do I still owe?

 
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I'm an ind. contractor & have NOT paid quarterly tax, but shows I am getting a refund. Is it taking what I owe in tax ($3503) from my credits ($4676)? Or do I still owe?

Yes you can have a refund after subtracting the self employment tax.  Check over your return before you file and double check it.  The SE tax is already included in your tax due or reduced your refund.  It is on the 1040 Schedule 4 line 57 which goes to 1040 line 14.

You can preview and peek at the 1040 https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

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I'm an ind. contractor & have NOT paid quarterly tax, but shows I am getting a refund. Is it taking what I owe in tax ($3503) from my credits ($4676)? Or do I still owe?

Yes you can have a refund after subtracting the self employment tax.  Check over your return before you file and double check it.  The SE tax is already included in your tax due or reduced your refund.  It is on the 1040 Schedule 4 line 57 which goes to 1040 line 14.

You can preview and peek at the 1040 https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

I'm an ind. contractor & have NOT paid quarterly tax, but shows I am getting a refund. Is it taking what I owe in tax ($3503) from my credits ($4676)? Or do I still owe?

Okay, thank you! So... I don't have to send the amount shown on line 57, because my credits were higher than tax I owed through the year? TurboTax sends it for me?

I'm sorry, this is my first year doing this, so this is all new to me. I knew about quarterly payments, but paying at the end of the year seemed like an easier solution based on what I estimated to make through the year.

I'm an ind. contractor & have NOT paid quarterly tax, but shows I am getting a refund. Is it taking what I owe in tax ($3503) from my credits ($4676)? Or do I still owe?

No you don’t have to send in line 57.  It has already been calculated in your refund.  But be sure you are getting a refund on 1040 line 20a.

I'm an ind. contractor & have NOT paid quarterly tax, but shows I am getting a refund. Is it taking what I owe in tax ($3503) from my credits ($4676)? Or do I still owe?

Okay great, yes it shows a refund on 1040 line 20a. Thank you for your help!
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