In the Quickbooks 2019 Estimated Tax Profile the personal exemption is set to $0, why? I do have one dependent and being single also head of household.

Answer

Thank you for posting here in the Community, gemjo.

Let me share some information about the personal exemption in QuickBooks Self-Employed.

A Personal Exemption is the amount of money the IRS allows taxpayers to deduct from the annual taxable income. A tax reform bill was recently passed about the elimination of the standard personal tax exemption

This is why your personal exemption in QuickBooks Self-Employed for tax year 2019 is $0. 

You can check the details on the IRS website using this link: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2019

Here's also an article about on how we calculate estimated tax payments

That's it. If you have any other questions or would like me to clarify anything else about your estimated tax profile in QBSE, let me know. I'm always glad to help in any way I can. Take care and enjoy the weekend.

Was this answer helpful? Yes No
Original
IntuitMaryJoy , Community Support Specialist
Employee SuperUser

No answers have been posted

More Actions

People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Qb community
Looking for advice from other business owners?

Visit our QuickBooks Community site.