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Corrected W2C for ODASI payback, do I need to record this anywhere

 
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2 Replies
rjs
Level 15
Level 15

Corrected W2C for ODASI payback, do I need to record this anywhere

If box 4 is the only change on the W-2c, it does not affect your 2020 tax return unless you had more than one employer in 2020. If you had only one employer in 2020 you do not have to do anything.


If you had more than one employer in 2020, the W-2c does not affect your tax return unless the total amount of Social Security tax withheld from all jobs in 2020 is more than $8,537.40. Add up the amount in box 4 of all your 2020 W-2s, using the corrected amount on the W-2c for that job. If the total is $8,537.40 or less, you do not have to do anything. If the total is more than $8,537.40, you had excess Social Security tax withheld, and the increase on the W-2c produced or increased the excess. You should file an amended return for 2020 to get a refund of the added excess Social Security tax withheld.


If you filed as married filing jointly for 2020, add up only the box 4 amounts for the person who got the W-2c. Do not include the other person's W-2s.

 

AmyC
Employee Tax Expert

Corrected W2C for ODASI payback, do I need to record this anywhere

If this is for 2021, when you enter the w2, there is a place to mark that it is corrected. Check that box and do input in the original w2.

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