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s3xiibackk
New Member

I had two jobs in 2020. How do I update "schedule 3"? How do I ensure that I receive a credit for the overpayment per social security wage base limit?

I am not a railroad employee.  Just a single mom who had two jobs and overpaid social security taxes.  I am supposed to be able to claim this on Schedule 3 but can't figure out how to in the TurboTax Premier Package.
3 Replies
SusanY1
Expert Alumni

I had two jobs in 2020. How do I update "schedule 3"? How do I ensure that I receive a credit for the overpayment per social security wage base limit?

TurboTax will pick up the excess social security paid from your entries on your Forms W-2.  If you have entered those, the credit will be applied on Line 10 of Schedule 3 for you automatically. 

 

In the online version of TurboTax you won't be able to view that schedule until later in the process when you are ready to file (after payment) when you review your full tax return but the number is also incorporated on Line 31 of 1040, which you can preview before you file (though other credits could be mixed in here as well).  


To preview your Form 1040, select Tax Tools on the left side of the screen from anywhere in your return and then follow these steps:

  1. Click on Tools.
  2. In the box that pops up in the center screen, select View Tax Summary.
  3. In the new menu that appears on the left, select Preview my 1040
  4. Use the scroll bar on the right side of the form itself to view both pages of Form 1040 and Schedule 1
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s3xiibackk
New Member

I had two jobs in 2020. How do I update "schedule 3"? How do I ensure that I receive a credit for the overpayment per social security wage base limit?

Thanks, Susan... I am aware that this is what is supposed to happen and how it is supposed to work.  It is not working.  When I preview, I see nothing and the amount of tax I owed is unchanged when it should be much lower if the overage was included as a credit.  I can't continue (or pay) until this is resolved.  There are other comments about this and a user posted instructions for "Railroad Compensation" but I don't have that.  I just have two regular jobs and one of them took out way too much for social security.

AnnetteB6
Expert Alumni

I had two jobs in 2020. How do I update "schedule 3"? How do I ensure that I receive a credit for the overpayment per social security wage base limit?

If the combined total between the two employers is what caused an excess amount of Social Security tax to be withheld, then it is automatically refunded to you on Schedule 3 Line 10. 

 

But, if the situation is that a single employer withheld more than they were supposed to withhold (more than 6.2% of the amount shown in your W-2 box 3), then that is a different situation and it will not be handled automatically as part of your tax return.  

 

Take a look at the following TurboTax article for more details about what to do next by clicking the blue Single Employer link.

 

Can I get a refund for excess Social Security tax withheld?

 

@s3xiibackk

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