My Taxable Income is $1634, why is my Tax Liability $1643? I'm self employed so using the 15.3% for self employed shouldn't I owe $251.38 if my Taxable Income is $1634?

My total income is $14982, deductions is $13348, Taxable income is $1634, Blended tax rate is 100.6%, and Tax liability is $1643. I'm confused where the $1643 came from

393

Level 15

Aug 1, 2020 6:53:25 AM

The Self-Employment tax (schedule 2, line 4) on your SE Income is likely causing the screwy % number. The SE tax is assessed on your self-employment gain before your taxable income is reduced by your personal tax deductions.

The 15.2% SE tax assessed should show up on line 4 of the Schedule 2, and is calculated based on the values shown on your Schedule SE.

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My Taxable Income is $1634, why is my Tax Liability $1643? I'm self employed so using the 15.3% for self employed shouldn't I owe $251.38 if my Taxable Income is $1634?