When you enter your
W-2, TurboTax automatically calculates what your Social Security and Medicare
withholding should have been (6.2%). If
the amount actually withheld is more than this amount, TurboTax will prompt
you to double check your entries.
If your employer did
withhold too much, they owe the difference to you.
Here's what to do
next:
- Contact your employer to get a refund of your overpayment of Social Security
tax.
- Let them know you need a corrected W-2
- Once you receive this new W-2, you'll need to update the amounts in TurboTax
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