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Confused: Why would I owe taxes?
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February 5th, 2015
Every “tax calculator” I’ve tried is saying I owe! Should I get a return?
Single, No Kids, No Dependents, Living in NYS.
(All numbers approximate)
Line 1. Income: $50,000
Line 2. Federal Income Tax Withheld: 4850
Line 3. Social Security Wages: 50600
Line 4. Social Security Tax Withheld: 3100
Line 5. Medicare Wages and Tips: 50600
Line 6: Medicare Tax Withheld: 730
Student Interest Paid: $2,300
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