2023 Social Security tax calculation is wrong

[bitjockey]

The 2023 version of TTAX still thinks it is 2022 when it comes to calculating how much FICA you should pay. Interestingly, if you click on the "withheld too much" link, the Help box has it correct (the 2023 max is $9,932.40). But the program was not updated.

Simple fix, surprised that no one has discovered this bug yet.

 

[Anonymous_]

Have you updated your software?

After doing a quick test, my test return shows the Amount we calculated as $9.932.00.

[bitjockey]

Hello....yes, I ran updates today (12/26/23), it says "Your software is up to date".

Are you using Premier on Windows? My release shows as 023.000.0356; TurboTax.exe is 2023.47.11.26.

[Anonymous_]

I'm not sure it makes a difference, but I have Home & Business. 

Perhaps another Champ or user will respond.

[DoninGA]

I am using the 2023 TurboTax Premier edition for Windows and also get the correct calculation, Amount we calculated as $9.932.00

[Critter-3]

@bitjockey 

Uninstalled WIN OS updates can hamper the TT updates from installing.

Run the OS updater twice then reboot the computer and try updating the TT program again. 

[bitjockey]

Thank you for that suggestion.

Windows Update says "You're up to date", last checked at 9:59am today. Get latest update is On. Nothing pending. Running Win 11 version 23H2, installed 11/20/2023. Latest quality update was the 2023-12 Cumulative Update (KB5033375) installed  12/13/2023.

Multiple reboots, problem persists.

[DoninGA]

@bitjockey I am using the 2023 TurboTax Premier desktop edition on a Windows 10 desktop PC and on a Windows 11 laptop PC.  On both PC's it is correctly showing  Amount we calculated as $9.932.00.

What you are seeing is strange since you are using the latest TurboTax updates and the latest Windows updates.

Have you considered completely uninstalling the TurboTax software and then re-installing?

[VolvoGirl]

I just installed Windows Home & Business.  I didn't get the excess message so I put in 10,000 for SS.  Got the "Looks like you are due a refund from your employer"  screen.  It shows the right amount of $9,932.00 BUT the screen should show the actual amount with cents of  9,932.40.  I kept putting in too much SS amounts and didn't get the excess screen until I entered 9,937.10!  They might need to fix that.  

[bitjockey]

Took your suggestion and uninstalled TTAX23 and reinstalled. Reboots in between. All updates current. It still thinks my employer withheld $1,078.80 in excess of the "Amount we calculated" of $8,853.60, which is the 2022 limit, not the 2023 limit. Tells me my employer owes me a refund, but that is not true.

[DoninGA]

@bitjockey Just to test - On the W-2 enter $200,000 for Social Security wages in box 3 and then enter $10,000 for Social Security taxes withheld in box 4.  Do you get the same erroneous result of $8,853.60?

[VolvoGirl]

All I can say is to make sure you are running the 2023 program and not the 2022 program.  Does it say 2023 at the top?    It can happen.

[DoninGA]

@VolvoGirl That was going to be my next suggestion.  Great minds......

[VolvoGirl]

Yeah but I went and looked at his screenshot again.  It does say 2023 on it.

[bitjockey]

Yes, I am running 2023 - it says "TurboTax Premier 2023" and then the file name at the top. It also shows me the comparison of my 2022 and 2023 data. So I know I am running 2023.

I will install TTAX23 on another Windows PC and see what happens.