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We have 2 W2's and our employers deducted 1.45% on the first 200k in wages and then an additional 0.9% for wages over 200k i.e 2.35%.
I am using the Turbo Tax Premier Desktop version. The software is calculating additional medicare taxes we owe on top of what our employers deducted as below
Total W2 income less 250 k for married filing jointly and the multiplying by 0.9% . The amount is then added to the taxes due. Are we double counting and over charging the additional medicare tax?
Total W2 income less 250 k for married filing jointly and the multiplying by 0.9% . The amount is then added to the taxes due. Are we double counting and over charging the additional medicare tax?
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March 25, 2024
6:39 PM