Deductions & credits
You do not have to print it out to review the Form 1040.
- The most you will have to pay in Social Security taxes for 2022 will be $9,114. That's what you will pay if you earn $147,000 or more. As its name suggests, the Social Security tax goes to the Social Security program. For 2022 it amounts to 6.2% for employees on all income up to $147,000.
I tested this with TurboTax and did see the results of the excess because of two or more employers. You can use the steps below to review your Form 1040 before you pay for the software. When you review your Form 1040, check line 31, and scroll to Schedule 3 to review line 11.
Using the Tax Tools:
- To find Tools:
- Sign into your TurboTax account and open or continue your return.
- Select Tax Tools in the left menu.
- You'll find Tools beneath Tax Tools.
- Select View Tax Summary
- Select Preview My 1040 (left black panel)
