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Sanity Check of my return.

I have Adjusted Gross of $26,500, Taxable Income of $10,800 and a fed tax of $5,100.  This doesent seem correct.  Am I thinking wrong?

 

 

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2 Replies

Sanity Check of my return.

are you self-employed? 

Sanity Check of my return.

If you are self employed, then all your net business income (profit) is subject to 15% self employment tax.  Then, your taxable income (after the standard or itemized deduction, dependents, and credits) is subject to income tax  (10-12% in your case). 

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