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What is tax liability?

What is my 2007 tax liability???? ?

  • I am doing my 2008 taxes thru Turbo tax online and Im at the box that's asking me "what is your 2007 tax liability" can someone tell me please what that is? and where on my income tax papers from last year it would be located? I used tax form 1040A , is this my federal tax paid? federal with holding? I cant finish my taxes until I know what to put there. help!!

  • Answer:

    Your tax liability is the amount you owed -- the amount of taxes you had to pay. That would be the line that says "THIS IS YOUR TOTAL TAX"

Katy R at Yahoo! Answers Visit the source

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Hi! On the 2008 version of the 1040A it is line 37. You would look for the line that says "Total Tax". Not sure what line number that would be on the 2007. Hope this helps. Virginia Cunning, Enrolled Agent, Master Tax Advisor H & R Block **This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more.

hrblockvirginia

it is 10% of your taxable income

gttazzy666

TurboTax has a help menu. Have you used that?

bud68

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