turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

bayd1123
New Member

I am getting an alert that I overpaid social security tax and need to upgrade to go any further. 6.2% of my social security wages was withheld which seems right to me. What do I do?

Thanks
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
JotikaT2
Employee Tax Expert

I am getting an alert that I overpaid social security tax and need to upgrade to go any further. 6.2% of my social security wages was withheld which seems right to me. What do I do?

You will need to upgrade to the Deluxe version as you will need to complete an additional form that is not included in the Basic version.  

 

The overpayment of Social Security taxes is reported on Schedule 3 and treated as a credit on your tax return.

 

Schedule 3 is not generated in the Basic version.  You will need to upgrade.

 

Select Help in the menu on the top.  

Select Upgrade TurboTax.

 

This will enable you to upgrade so you can file the forms needed to get credit for the excess taxes withheld.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I am getting an alert that I overpaid social security tax and need to upgrade to go any further. 6.2% of my social security wages was withheld which seems right to me. What do I do?

WAIT ... before you upgrade go back and review your W-2 entry screens ... did you make an entry error ?  Do you have a spouse ?  Did you accidentally indicate your & her W-2 both belong to one person ? 

I am getting an alert that I overpaid social security tax and need to upgrade to go any further. 6.2% of my social security wages was withheld which seems right to me. What do I do?

There are 2 different situations when it will say Employer may have paid too much Social Security.  It's saying either 1 employer took out too much SS -OR- that you paid too much SS because you had more than 1 employer.  This should cover both.

 

More than 1 Employer:

For 2019,  If you had more than one employer and  the total of box 4 (only box 4 not box 6) on all your 2019 W2s  for Social Security is more than $8,239.80 you get the excess back on your tax return.  And it is for each spouse separately, not combined.  Check 1040 schedule 3 line 11 for it.  Then schedule 3 goes to 1040 Line 18d.  If only one employer took out more than $8,239.80 you have to get the difference back from that employer and get a corrected W2 form.

 

One Employer:

Check boxes 3 & 4 on your W2. Box 4 should be 6.2% of box 3 up to a max of $8,239.80.   So take the amount in box 3 and multiply it by .062. If box 4 is more than that you need to get a corrected W2 from your employer.  But also go back and double check your W2 entries, you may have entered box 3 & 4 wrong.  A lot of people who have asked this found they did enter an amount wrong.

 

Or check W2 box 12.  You may have entered Code A by mistake.

 

A sure way to fix this is to delete the W2 and re-enter it.  That may clear something out.

 

Or post back with the amounts in boxes 3&4.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies