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Turbo Tax not Correcting Social Security Overwithholding?!
Married filing jointly, three employers/W-2's between us. Turbotax claims our MAXIMUM Social Security tax should be ~$8500, but the sum of our three W-2 box-4's is nearly $11K. Turbotax is SUPPOSED to automatically add the over-taxed sum back to our refund -- and indicate the overage on 1040 Sched 3, line 10 -- but our line 10 is BLANK. Why isn't Turbotax crediting us for the over-payment?
Here's the best part: all of this is going on BEFORE we add the complication of deferred Social Security tax collection: one of our employers is presently collecting another $1100 of deferred 2020 Social Security tax -- driving our total Social Security tax bill to $12K+ -- when it should be capped at ~$8500.
Need some answers!
March 27, 2021
4:27 PM