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Level 2
posted Feb 25, 2021 9:44:08 AM

Are there issues with TurboTax and Railroad Retirement tiers this year? RR Tier 1 took 8177.42. My income was 108380.95 6.2% of it is 6,719.62 and calculated is 0? Help

I beleive  I paid too much but why is this software showing me they calculated a withholding of 0 when the tier 1 RR is 6.2% of earnings

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1 Replies
Expert Alumni
Feb 25, 2021 12:32:15 PM

Enter your Railroad Retirement Tier 1 amounts in box 14 of the W-2. Do not enter it box 4 for Social Security withholdings. In box 14, enter the description, amount, and select the category drop down then scroll to Railroad Retirement Tier 1. Additionally, you will need to enter in box 14 the Railroad Retirement compensation amount from box 1 of the W2 so the overpayment is not reported. Select "Railroad Retirement Compensation" from the box 14 category.

Click here for more information on entering Railroad Retirement information in TurboTax

 

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