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Why would my earned income be less than the income I'm being taxed on?

I am paying taxes on $1441, but I am being told me earned income is $1339. I did not put in any deductions.
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3 Replies
KrisD15
Expert Alumni

Why would my earned income be less than the income I'm being taxed on?

You might have a combination of earned income (wages) and unearned income (interest and dividends, rental income, capital gains). 

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Why would my earned income be less than the income I'm being taxed on?

Ah, I see. I had $111.xx from capital gains from my brokerage account. That would be the difference. But now I have an excess contribution on my Roth IRA. Dang it. I wasn't sure how those two would interact and I guess I should have looked into it more.

 

Thank you! This was helpful.

KrisD15
Expert Alumni

Why would my earned income be less than the income I'm being taxed on?

Thank you for using TurboTax.

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