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Retirement tax questions
It seems you may be liable for the additional medicare tax because of your income level. This additional tax is reported on Form 8959.
A 0.9% Additional Medicare Tax applies to Medicare wages, self-employment income, and railroad retirement (RRTA) compensation that exceed the following income threshold amounts based on filing status: $250,000 for married filing jointly; $125,000 for married filing separately; and.
When a portion of an individual's wages will be subject to the additional tax, but earnings from a particular employer do not exceed the $200,000 threshold for withholding of the tax by the employer, the employee is responsible for calculating and paying the additional 0.9% Medicare tax.
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‎January 29, 2020
3:52 PM
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