DaveF1006
Expert Alumni

Retirement tax questions

If you reported everything correctly, you may be due a refund. According to the IRS, you may receive a refund under these conditions and that Turbo Tax handled this correctly.

 

  • If you had more than one employer and too much Social Security tax or Tier 1 RRTA tax withheld, you may be able to claim the excess as a credit against your income tax on your income tax return. Refer to “Excess Social Security and Tier 1 RRTA Tax Withheld” in the Instructions for Form 1040 (and Form 1040-SR) for more information.
  • You may be entitled to a refund if you paid excess Tier 1 RRTA tax over the Tier 1 RRTA compensation base or if you paid excess Social Security tax over the Social Security wage base.
  • You may be entitled to a refund if you paid both Tier 1 RRTA tax and Social Security tax which, combined, exceed the Social Security wage base.
  • If you had more than one employer and too much Tier 2 RRTA tax withheld, you may request a refund of the excess Tier 2 RRTA tax using Form 843PDF. Attach copies of your Forms W-2 for the year to Form 843.

Excess Social Security and RRTA tax withheld

@bdDiane 

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