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chrisb86
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Income of $1,800 from a 1099-Misc reduced my refund by $700. This seems excessive; is it accurate?

 
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Income of $1,800 from a 1099-Misc reduced my refund by $700. This seems excessive; is it accurate?

It could be accurate depending on the amount of income shown on the 1099-MISC form.  Don't forget that not only are you paying tax at your marginal rate on that amount of income, but you are also paying self-employment tax at a rate of 15% plus.  That would reduce your refund  Tom D.

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Income of $1,800 from a 1099-Misc reduced my refund by $700. This seems excessive; is it accurate?

It could be accurate depending on the amount of income shown on the 1099-MISC form.  Don't forget that not only are you paying tax at your marginal rate on that amount of income, but you are also paying self-employment tax at a rate of 15% plus.  That would reduce your refund  Tom D.

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