Hi I need help on top of my normal job i worked as an independent contractor for a few months made apx $3600 no taxes were with withheld so I paid IRS $1200 my question is what do I need to file taxes for this income and am I going to have to pay more than what I’ve already paid
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You have some self-employment income, for which you will pay self-employment tax for Social Security and Medicare. You will need to be sure to enter the estimated tax you already sent in:
Go to Federal>Deductions and Credits>Estimates and Other Taxes Paid>Other Income Taxes
SELF EMPLOYMENT INCOME/“side jobs”
If you have self-employment income for which you will pay self-employment tax for Social Security and Medicare, you will need to use online Premium software or any version of the desktop software download so that you can prepare a Schedule C for your business expenses.
https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes
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://blog.turbotax.intuit.com/self-employed/self-employed-tax-deductions-
calculator-2021-2022-50907/
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
If you live in a state with a state income tax, you might need to make estimated payments to your state.
https://turbotax.intuit.com/tax-tools/calculators/self-employed/
Yes you will need to report this additional income on your tax return. Your going to find out that sometimes it doesn't pay to be an independent contractor. Your going to need to file Schedule C on your federal return and the "profit" is subject to Social Security and Medicare tax also known as FICA. You may also be subject to additional State taxes. In TurboTax you will need the business version (TurboTax will help) and follow the instructions during the interview. You will also want to get the Form1099MISC from the person who paid you. This will show how much you were paid. This amount needs to match what you report.
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