My 1040 schedule 3 Line 10 shows a credit since my employer changed EINs and withheld double. Should this show in my tax summary as a credit as it does not currently?

The excess social security withholding from the 1040 is not showing in my turbo tax summary as a credit and net a large balance is shown due. Is this a turbo tax error or how can I correct for this?

328

Expert Alumni

Feb 2, 2021 3:26:38 PM

Yes, but not in the tax summary. It should show up as a credit on line 10 of your Schedule 3 and the total from line 13 should flow to line 31 of the 1040. Note the maximum earnings subject to social security is for 2020 was $137,700. So you would have to earn more then that to get the excess Social Security credit. To review your 1040 in TurboTax:

In the left margin click Tax Tools
Click Tools
select View Tax Summary
in the left margin, select Preview my 1040

From there you can see your 1040 and schedules 1, 2, 3. Review the lines mentioned on the 1040 and Sch 3 for your credit. Click Back in the left margin when done.

Make sure your W-2 input is correct if you see a discrepancy.

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My 1040 schedule 3 Line 10 shows a credit since my employer changed EINs and withheld double. Should this show in my tax summary as a credit as it does not currently?