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suboxhelp1 t1_j261xpp wrote

We’d need all of your W-2 numbers to verify. Very possible that you owe.

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[deleted] OP t1_j262hoo wrote

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Night_Hawk69420 t1_j264i4u wrote

Yes if you sell off some stocks that are worth less than when you bought them you can deduct of to 3k of losses off your ordinary income so that would probably make it to where you didn't owe anything

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Steak_Knight t1_j264xi0 wrote

You can… but it also seems very possible to come up with $500 between now and April.

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[deleted] OP t1_j265ff7 wrote

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Steak_Knight t1_j265jsb wrote

Then sure, go ahead and tax loss harvest those. Can claim up to $3000 in losses.

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[deleted] OP t1_j262cio wrote

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suboxhelp1 t1_j262ntq wrote

What is your gross income, federal withholding, and FICA withholding at YTD?

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[deleted] OP t1_j262uw4 wrote

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suboxhelp1 t1_j2639bp wrote

By my calculations, you’ll owe about $70.

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[deleted] OP t1_j2647u5 wrote

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suboxhelp1 t1_j264ho1 wrote

You'll have to adjust your withholding amounts. Since you had 3 different jobs, it sounds like it wasn't withholding correctly since each job assumed you didn't make any other income for the year. If you switch jobs during the year, you have to correctly indicate on your W-4 so that the new employer knows how much to withhold.

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shafe123 t1_j265lfq wrote

Saw elsewhere that you were worried about having the cash to pay it off. Would strongly look into setting up a payment plan with the IRS.

https://www.irs.gov/payments/payment-plans-installment-agreements

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[deleted] OP t1_j2668x3 wrote

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shafe123 t1_j266f2a wrote

Then you might as well harvest as much of your losses as you can and get a refund, yeah?

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