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March 20, 2020
Question

1099

  • March 20, 2020
  • 1 reply
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If i file a 1099 will turbo tax take out any taxes owed like federal? Do they do this automatically? I never checked and now I’m worried i know they did for my state but now I’m wondering if I’ve paid into taxes i assumed TT automatically did this 

1 reply

ColeenD3
March 20, 2020

If you add a 1099-Misc to your return, it will increase your income. Since there are no taxes withheld, whatever withholding you do have will help to pay the taxes on that income.