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April 4, 2021
Question

In filing an amendment for 2020 taxes, I am paying more in taxes than I made. The amendment is for royalties.

  • April 4, 2021
  • 1 reply
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The amendment is for royalties. I was cruising along and paying a reasonable tax, when all of a sudden, it jumped up.

1 reply

April 4, 2021

that can happen single with taxable income of $49,999 tax $6,785 add 1 dollar tax is now $6,796

so there could be a small jump in your tax.  however, we can't see your return so you could have made an erroneous entry. 

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