Question

self-employed 1099-NEC

Forum|Forum|4 years ago
April 16, 2022
1 reply
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HELP! How do I know how much I owe for my self employed work? I used Turbo Tax and filed Wages with w-2 and also non-employee compensation for my self employed work as a guitar teacher.

Do I need to actively pay the 15.3% tax as an independent contractor for that 1099-NEC form or is Turbo Tax doing this for me? I was never prompted to make a payment for that amount. I got federal return and state is pending but I owed like $119 to state. I'm just very confused. thanks

TurboTax Self Employed Online

AliciaP1

If you entered everything into TurboTax for your self-employment income, the system will calculate your Self-employed taxes and the deduction you are allowed for 1/2 the amount from that entry. You do not need to do anything extra.

You may want to review What self-employed expenses can I deduct? to be sure you deducted everything you could against your income.

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