social security

4 replies
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Tubo Tax said my part time job took out too much social security. I am 70 get social security and take 10% out automatically. They took out 2000 too much according to turbotax is that possible?

DoninGA

Level 15

Look at the W-2 that you entered. If the amount in box 4 of the W-2 is greater than 6.2% of the amount in box 3, even if by $0.01, the program will give you that message. If that is the case, then edit your W-2 and remove the cents from the Social Security taxes withheld.

Opus 17

Level 15

This is not related to withholding from your benefit payments, this is about new SS tax withholding from your part-time job paycheck.

There are two issues that can cause "too much social security." One is if your total social security withholding from your job (W-2 box 4) is more than $8230. The other issue is if box 4 is more than 6.2% of box 3. Turbotax seems very sensitive to rounding this year. For example, if your wages are $9232, your SS tax should be $578.58. Turbotax will round that up to $579 and then report that as "too much SS tax withheld".

Double-check your W-2 that all the numbers are correct. If you still get the error message, try reducing the box 4 amount by $1. It should clear the error and won't create a problem with the IRS.

Opus 17

Level 15

If the supposed error is $2000, that sounds like some of the numbers from your W-2 boxes 1-6 are incorrect, not a rounding issue.

Anonymous

$2,000 is almost impossible. that would imply that they took out Social Security for about $32,000 more in social security wages. i would check your w-2 entries.