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Retirement tax questions
8959 computes the additional medicare tax on wages over the threshold. this gets added to your tax liability
to your regular federal withholding, if your employer withheld more than 1.45% on your medicare wages that gets added to your federal withholding
say lines 1 and 4 of 8959 are $350,000
line 6 would be $100,000 for line 6 MFJ
and line 9 would be $900
$350,000 in medicare wages should normally have tax withheld @ 1.45% or $5,075 in this case if more than that was withheld that extra would be added to your federal withholding. part V of form 8959
that's the law. an extra .9% tax on medicare wages in excess of the threshold
in addition to an additional 3,8% tax for excess investment income.
‎June 3, 2019
12:47 PM