Why do I owe Federal Tax when my income was lower than my standard deduction amount?
My income was $2083.33 The Standard deduction was $6000 or so
03561
1 Best answer
Texas Roger
Level 15
Jun 6, 2019 4:28:34 AM
Answered in comments.
3 Replies
Texas Roger
Level 15
Jun 6, 2019 4:28:31 AM
Was any of your income from a 1099-MISC? If so, you must pay self employment tax and there is no standard deduction for self employment tax. The standard deduction is only for ordinary income tax.
rloveall14
New Member
Jun 6, 2019 4:28:33 AM
Yes, it was from a 1099-Misc. I am self-employed. Thank you. I just needed to make sure before filing. This is my first year self-employed.