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Level 1
December 17, 2024
Question

when filing online with turbo tax is Social Security tax, which is 12.4% in total for Social Security (and 2.9% for Medicare) automatically added

  • December 17, 2024
  • 8 replies
  • 61 views
i just want to make sure that they are taking my taxes and social security sto earn some credit

    8 replies

    DoninGA
    Level 15
    Level 15
    December 17, 2024

    If you are referring to income from self-employment, yes if you have net income from self-employment you will owe self-employment taxes which is both the employer and employee share of Social Security taxes and Medicare taxes.

     

    If you are an employee and receive a W-2 then the SS and Medicare taxes are withheld from your wages by your employer and reported on the W-2 in boxes 4 and 6.

    Level 2
    June 13, 2025

    I believe the question is perhaps more specifically asking not what it is or how much but rather is the Federal Tax Due box at the top of turbo tax that calculates constantly as you work through all the questions-does that box include Federal Taxes, Social Security and Medicare Taxes or is it simply just the Federal Tax part? Meaning the three inclusive is the total Federal Tax owed?

    DoninGA
    Level 15
    Level 15
    June 13, 2025

    @John Sharman The box at the top of the screen is only for federal taxes owed or a federal tax refund. 

    Level 15
    December 17, 2024

    You can log into your social security account any time and check your work history.  It takes a few months for the current tax year to show up. 

    Level 15
    December 17, 2024

    If you are self-employed, the SSA gets your qualifying income from line 4c of your Schedule SE provided to them by the IRS.