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federal income tax filing schedule

Independent Contractor Tax Question Help Please?.

Started working as an independent contractor in July 2010. Did not pay quarterly taxes. Gross income for 2010 $8500. Filed with turbo tax, and after deductions it said I owe $33 for federal taxes. Is this right, when I did not pay anything yet for SS or Medicare?

The " Profit or Loss from Business (Schedule C)" within "Business Income and Expenses" is the correct place.

The figure $33 is low, but could be right. Your income tax is zero. Your self-employment (SS and medicare) tax is approximately $1200. If your credits (EIC, etc.) almost exactly offset this, then your net amount due could be $33.

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Filing schedule k-1 on income tax?.

When filing schedule k-1 on ur income tax is there going to be state and federal paid tax?

If you have income reported on a Schedule K-1, there will be no tax withheld. This schedule just reports your share of partnership income, Subchapter-S or fiduciary distributions.