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M
mayfieldfour
February 15, 2023
Question

If federal deductions found are greater than total income, why does son still owe; he only got a 1099-MISC from his small business employer, no w-2

  • February 15, 2023
  • 1 reply
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1 reply

M
mglauner
February 15, 2023

If your son files as Self-Employed and reports his 1099-Misc as Business Income, he may owe Self-Employment Tax even if he has other Federal Deductions.

 

He can review his return in TurboTax Online by going to Tax Tools > Tools in the left-side menu, then choose 'View Tax Summary' from the pop-up menu.  Then, back at the left-side menu, choose 'Preview My 1040'.

 

Here's some info on Reporting Business Expenses. 

 

 

 

 

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