<p>I had a small internship last summer and made around less than 6k. I did a online calculator with H&R block and it says I have to pay $509 in taxes because I was a 1099 and taxes weren’t taken out of my paycheck. I’m trying to figure out what tax deductions I can get, as a full time college student. I pay tuition, etc. so I’m just wondering if anybody has any suggestions because $509 is a pretty hefty amount for the salary I earned.</p>
<p>Are you saying you only earned $6K but it indicates you owe that much? If so, something doesn’t sound right. You should have at least a federal exemption of close to $6K. My son earned around $2K and had close to $6K in scholarship income and he only had to pay around $50. He had taxes taken out but if he didn’t his tax was less than $200. Now if you are talking about state taxes that might be a different story.</p>
<p>P.S. If you made less than $31K you can use Turbo Tax for free including free efiling. See link.</p>
<p><a href=“http://turbotax.intuit.com/taxfreedom/[/url]”>http://turbotax.intuit.com/taxfreedom/</a></p>
<p>Could some of the tax owing be SECA?</p>
<p>The tax the OP owes is not income tax, but self employment tax. Look at the 1099 itself and see whether it claims it is “non employee compensation” or “Other income”. If the former, then they consider you an outside contractor and you need to pay social security and medicare taxes on it. If it’s other income, it could be considered a fellowship, a stipend or other income not subject to self employment tax. In which case you’d put it on line 7 of the 1040 and owe only income tax on it which would be minimal.</p>