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null335
New Member

Where can I review how Turbo Tax calculated sch 5 line 72? I received a notice from the IRS changing this amount and I want to review how it was calculated 2018

I believe the adjustment is related to my having multiple employers and having too much withheld for SSA.
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3 Replies

Where can I review how Turbo Tax calculated sch 5 line 72? I received a notice from the IRS changing this amount and I want to review how it was calculated 2018

this is usually a data entry error by the user ... either you did not assign the W-2 forms correctly between you and your spouse  OR  on the W-2 box 12 you accidentally entered a code A instead of D, DD, E, etc.

Where can I review how Turbo Tax calculated sch 5 line 72? I received a notice from the IRS changing this amount and I want to review how it was calculated 2018

Hal_Al
Level 15

Where can I review how Turbo Tax calculated sch 5 line 72? I received a notice from the IRS changing this amount and I want to review how it was calculated 2018

That will show on the line 72 Smart worksheet, on the 1040 Worksheet (abbreviated 1040 Wks, on the list of forms). It's usually the first form on the list. But, it will not show an actual calculation. The amount on line 72 is a sum of box 4 on all your W-2s minus $7960.80 (the maximum amount of social security tax any individual has to pay).

You usually will only get a line 72 credit if you have more than one employer during the year.  If you only have one employer, they will stop withholding social security tax when your income, for the year, reaches $128,400.

As others have already indicated, when the IRS rejects this credit, it is usually because you mis-identified your spouse's W-2 as your additional W-2; so TurboTax claimed excess SS tax on line 72.

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